Moody's assigns Aa2 to Metropolitan Water bonds

Moody's Investors Service said it assigned an Aa2 rating to the Metropolitan Water District of Southern California's $80.965 million 2008 series C water revenue refunding bonds. The outlook is stable.

The expected sale date is July 8.

Proceeds will be used to refund a portion of the district's outstanding variable-rate debt and to fund an estimated $7 million swap termination payment.

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