Moody's rates Honolulu wastewater bonds A1

Moody's Investors Service said it assigned an A1 rating and stable outlook to the City and County of Honolulu's wastewater system revenue bonds (second bond resolution), junior series 2008A.

The bonds are expected to be issued in the approximate amount of $112.825 million.

Moody's also said it affirmed the Aa3 rating on the system's approximately $730.7 million of outstanding senior-lien bonds and the A1 rating on the system's approximately $457.1 million of outstanding junior-lien bonds, excluding the current offering.

The outlook is stable.

Sale of the junior series 2008A bonds is expected on April 22.

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