The credit-rating agency Fitch assigns a rating of AA- to a $16 million bond issue to be sold by the Reno-Sparks Indian Colony this month. The colony will use the money to build and equip a health center in Reno.
The rating is based on an irrevocable, direct-pay letter of credit issued by U.S. Bank, pledging to make principal and interest payments on the bonds.
The interest rate will be set when the bonds are sold by Piper Jaffray & Co. The sale is planned for June 28.