Moody's lifts Houston utility debt to Aa3, A1

Moody's Investors Service said it upgraded to Aa3 from A1 the City of Houston Combined Utility System's roughly $770 million of "previous ordinance" junior-lien revenue bonds and upgraded to A1 from A2 the system's roughly $4.05 billion of first-lien debt.

The outlook was also revised to stable from positive.

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