Moody's gives MIG1 to Orange County TRANs

Moody's Investors Service said it assigned a MIG1 rating to Orange County, Calif.'s $80 million of 2008-2009 tax and revenue anticipation notes.

The expected sale date is July 30.

The notes are on parity with $75.6 million of previously issued notes that funded the county's purchase of property tax receivables under its Teeter Plan. The current notes will fund the remaining cash flow requirements of the county's general fund.

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