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Moody's assigns A3 to Alcoa refunding bonds
Moody's Investors Service said it assigned an A3 rating to the $76.75 million series E-5-B local government public improvement bonds issued by the Public Building Authority of Blount County, Tenn., for the City of Alcoa.
The expected sale date was Aug. 1.
Proceeds will restructure the city's outstanding $9.18 million series B-1-A, $4.5 million D-5-C, $13.4 million D-7-A, $20.98 million D-11-A, $5 million D-1-E, $10 million IV-B-5, $8 million IV-A-1, $2.5 million II-A-2 and $3.2 million II-E-3 bonds.
Moody's also affirmed the A3 rating on the city's previously issued parity debt of $45.17 million.
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