Moody's ups Hillsborough County bonds to Aa1

Moody's Investors Service said it upgraded the long-term rating of the Hillsborough County, Fla., series 2004C certificates of participation to Aa1 from Aa3 and assigned a short-term rating of VMIG1.

The upgrade occurs in conjunction with conversion of the certificates to a weekly interest rate mode from an auction-rate mode and delivery of a letter of credit by Wachovia Bank NA, rated Aa1 for its long-term obligations and Prime-1 for its short-term obligations.

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