Moody’s Investors Service has upgraded to Aaa from A1 the long-term rating for $120 million of Series 2003 North Carolina Medical Care Commission revenue bonds issued for CaroMont Health. It also assigned the short-term rating of VMIG 1 to the bonds.

The rating is based upon the letter of credit provided by Bank of America NA, the structure and legal protections of the transaction, and Moody’s evaluation of the credit quality of the bank issuing the letter of credit.

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