Moody's rates Orlando, Fla., tourist development bonds Aa3, Baa1

Moody's Investors Service said it gave an Aa3 underlying rating to the City of Orlando, Fla.'s $181.5 million of senior tourist development tax revenue bonds (6th cent contract payments), series 2008A, and a Baa1 underlying rating to the city's $50.8 million of second-lien subordinate tourist development tax revenue bonds (6th cent contract payments), series 2008B.

Assured Guaranty Corp., which has an Aaa rating and stable outlook, is expected to insure the bonds. Subject to a review of the insurance policy, the bonds will carry the financial strength rating of the insurer.

Sale of the bonds is set for Feb. 26.

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