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Moody's gives Aa2 to Newport News, Va., bonds
Moody's Investors Service said it assigned an Aa2 rating to the City of Newport News, Va.'s $34.37 million of general obligation general improvement bonds, series A of 2008, and $25.38 million of general obligation water bonds, series B of 2008.
Concurrently, Moody's said it affirmed the Aa2 rating on the city's $521 million of outstanding parity debt.
Sale of the bonds is expected on March 26.
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