Moody's gives underlying Aa3 to Houston college bonds

Moody's Investors Service said it assigned an Aa3 underlying rating to Houston Community College System's $60 million of senior-lien student fee revenue bonds, series 2008.

Sale of the bonds is expected on April 16.

Moody's also said it affirmed the A1 underlying rating on the system's junior-lien student fee revenue bonds and the Aa2 underlying rating on the system's limited-tax general obligation bonds and maintenance tax notes.

In addition, Moody's said it affirmed the Aa3 rating on the Houston Community College System Public Facility Corp.'s lease revenue bonds.

The outlook is stable.

All of the system's debt, including the current issue, is fixed rate.

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