Moody's assigns Aaa to Alexandria G.O. bonds

Moody's Investors Service said it assigned an Aaa rating to the city of Alexandria, Va.'s $63 million series 2008A and B general obligation bonds.

The expected sale date is July 9.

Proceeds of the series A bonds will fund municipal projects, including improvements to city buildings, parks, schools and infrastructure. Proceeds of the series B bonds, which are taxable, will be loaned to the Alexandria Redevelopment and Housing Authority to be used toward replacement of public housing.

Moody's also affirmed the Aaa rating assigned to Alexandria's $273 million in outstanding parity debt.

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