Moody's assigns Aa3 to Pa. higher education bonds

Moody's Investors Service said it assigned an Aa3 rating to $138.855 million series AH revenue bonds issued by the Pennsylvania Higher Educational Facilities Authority for the State System of Higher Education.

The expected sale date is July 1.

Proceeds will be used to fund capital projects at member campuses and to pay capitalized interest and issuance costs.

Moody's also affirmed the Aa3 ratings on the system's outstanding parity debt issued through the Pennsylvania Higher Educational Facilities Authority. The outlook is stable.

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