Moody's gives Baa1 to Piedmont, S.C., power bonds

Moody's Investors Service said it assigned a Baa1 underlying credit rating to Piedmont Municipal Power Agency, S.C.'s $144.85 million of electric revenue bonds, series 2008A.

The outlook is stable.

The bonds are expected to be insured by Assured Guaranty, which is rated Aaa with a stable outlook.

Sale of the bonds is expected on May 1.

Moody's also said it affirmed the ratings on the agency's outstanding debt.

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