Moody's Investors Service has assigned a "VMIG 1" rating to Chapel Hill-based University of North Carolina Hospitals' series 2009A bonds in connection with an SBPA provided by Portland, Maine-based TD Bank.
The short-term "VGIM 1" rating results from the credit quality of TD Bank and Moody's assessment of the likelihood of an early termination of the SBPA without a final mandatory tender.
This follows an August Moody's report on the "Aa3"/"VMIG 1" rating assigned to UNC Hospitals' 2003A and 2003B bonds, as well as the "VMIG 1" rating affirmation on its 2001A and 2001B bonds.