Moody's assigns A2 to Fresno sewer bonds

Moody's Investors Service said it assigned an A2 rating to sewer system revenue bonds, 2008 series A, issued by Fresno, Calif.

The issuer expects to sell $161.115 million of the bonds on July 7.

The proceeds of the current issue will be used to refund $75 million in variable-rate bonds issued in 2000; refund $30 million in fixed-rate bonds issued in 1995; and provide $51 million in new money.

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