Moody's rates Ohio revitalization bonds A1

Moody's Investors Service said it assigned a rating of A1 to the State of Ohio's planned issuance of $50 million of series 2008A revitalization project bonds.

The rating is based on a subordinate-lien pledge of Ohio State Liquor Enterprise net profits under chapter 151 of state law.

Sale of the bonds is expected on April 9.

Moody's also said it affirmed the A1 ratings on the state's outstanding parity debt and the Aa3 ratings on the state's outstanding senior-lien liquor profits bonds issued under chapter 166.

The outlook for both types of liquor profits bonds is stable.

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