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Moody's raises Hilton Head Island, S.C., bonds to Aa1
Moody's Investors Service said it assigned an Aa1 rating to Hilton Head Island, S.C.'s $11.7 million of general obligation refunding bonds, series 2008A, and $5 million of general obligation refunding bonds, series 2008B.
At the same time, Moody's upgraded to Aa1 from Aa2 the town's $47.5 million of outstanding post-refunding parity debt.
Sale of the 2008 bonds is expected on March 4.
Moody's also upgraded to Aa2 from Aa3 the rating on Hilton Head Island Public Facility Corp.'s $7.9 million of outstanding series 2004A and 2004B certificates of participation.
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