Anne Arundel (County of) MD -- Moody's assigns A2 rating to Anne Arundel Community College Foundation's (MD) $12.4 million of series 2012 Economic Development Revenue Bonds; outlook is revised to...

New York, June 28, 2012 --

Moody's Rating

Issue: Economic Development Revenue Refunding Bonds, Series 2012; Rating: A2; Sale Amount: $12,400,000; Expected Sale Date: 7/12/2012; Rating Description: Lease Rental: Appropriation

Opinion

Moody's Investors Service has assigned an A2 rating to Anne Arundel Community College's ("AACC" or the college) $12.4 million of Series 2012 Economic Development Revenue Refunding Bonds. We have also affirmed our existing ratings. The rating outlook is revised to negative from stable.

SUMMARY RATING RATIONALE: The A2 rating reflects the college's stable market position, as one of the largest community colleges in Maryland, low debt profile, and our expectation of ongoing support from the State of Maryland (rated Aaa) and the county (rated Aa1) for both operating and capital. The negative out