Moody's Investors Service has assigned an "MIG 1" rating to Blue Earth, Minn.-based United Hospital District's proposed $22 million of series 2016A and $22 million of series 2016B bond anticipation notes.
The BANs were issued on behalf of Staples, Minn.-based Lakewood Health System.
The rating assignment is based on a number of factors, including a commitment from the U.S. Department of Agriculture, Rural Development to provide a direct loan to pay the BANs upon substantial completion of the project at Lakewood Health System.