Moody's rates New York City water bonds Aa2/VMIG 1, Aa2

Moody's Investors Service said it assigned ratings of Aa2/VMIG 1 to $535 million of water and sewer system revenue bonds, adjustable rate, fiscal 2008 series B, from New York City Municipal Water Finance Authority and an Aa2 rating to the authority's $145 million of water and sewer system revenue bonds, fiscal 2008 series C.

The fiscal 2008 series B issue consists of $200 million of series B-1, $100 million of series B-2, $135 million of series B-3 and $100 million of series B-4.

At the same time, Moody's said it affirmed the Aa2 rating on the authority's outstanding rated senior lien revenue bonds and the Aa3 rating on the authority's outstanding rated subordinate lien revenue bonds.

The outlook is stable.

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