Moody's rates N.J. Sports and Expo bonds A2

Moody's Investors Service said it assigned a rating of A2 to the New Jersey Sports and Exposition Authority's upcoming issue of $279.735 million of state contract bonds (federally taxable).

The sale includes $97.26 million of 2008 series A refunding bonds along with a remarketing and conversion of $182.5 million of auction-rate 2007 bonds, subseries B-1 to 3, to a fixed-rate mode.

Moody's said it affirmed the rating on the remarketing at A2 with a stable outlook.

Sale of the bonds is expected on April 22.

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