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S&P rates Utah Transit bonds AAA
Standard & Poor's said it assigned an AAA rating and stable outlook to the Utah Transit Authority's $700 million of series 2008A senior sales tax revenue bonds.
At the same time, S&P said it affirmed the AAA underlying rating on the authority's parity senior lien sales tax revenue bonds and the AA- rating on the authority's subordinate lien debt.
The outlook is stable.
In total, the action affects about $215.2 million of outstanding senior lien debt and $436.1 million of outstanding subordinate debt.
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