Moody's rates Pennsylvania G.O. bonds Aa2

Moody's Investors Service said it assigned an Aa2 rating to the Commonwealth of Pennsylvania's $325 million of first series of 2008 and $80 million of first refunding series of 2008 general obligation bonds.

Sale of the bonds was expected on May 20.

Bond proceeds will be used to fund a variety of capital and redevelopment assistance projects, to provide funds for Persian Gulf conflict veterans' benefits and to refund second and third series 1998 general obligation bonds.

The outlook is stable.

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