Fitch gives A+ to Florida Keys water revenue bonds

Fitch Ratings said it assigned an A+ rating to the Florida Keys Aqueduct Authority's approximately $52.6 million water revenue refunding bonds, series 2008.

The bonds are expected to price the week of June 9 through a negotiated sale, with proceeds being used to refund outstanding parity debt.

Fitch also affirmed the A+ rating on the authority's approximately $134.1 million in outstanding parity debt. The outlook is stable.

In addition to the current offering, the authority tentatively expects to issue about $15 million to $18 million annually in fiscal years 2009, 2010 and 2012 to fund capital improvements.

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