Moody's rates Arlington, Texas, bonds Aa2

Moody's Investors Service said it assigned an Aa2 rating to Arlington, Texas' $39.88 million in permanent improvement and refunding bonds, series 2008; $5.92 million combination tax and revenue certificates of obligation, series 2008A, and $38.94 million combination tax and tax increment reinvestment zone revenue certificates of obligation, series 2008.

The city expects to sell the bonds on June 3.

Moody's also affirmed the Aa2 rating on the city's approximately $255.38 million in outstanding parity debt.

Proceeds from the sale of the bonds will be used to make capital improvements.

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