S&P ups Montgomery County, rates lease bonds AA-

Standard & Poor's said it raised to AA- from A the underlying rating on Montgomery County Industrial Development Authority, Va.'s outstanding lease revenue bonds and assigned that rating to the authority's $77 million series 2008 lease revenue bonds.

The bonds are dated Aug. 1, 2008 and are due Feb. 1, 2029.

The outlook is stable.

The upgrade follows an upgrade of Montgomery County's general obligation debt rating to AA, S&P said.

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