Moody's gives Aa3 to Portland waterfront bonds

Moody's Investors Service said it assigned an Aa3 underlying rating to the City of Portland, Ore.'s $50.165 million of downtown waterfront urban renewal and redevelopment bonds, 2008 series A.

At the same time, Moody's said it upgraded to Aa3 from A1 the parity rating on the city's outstanding $53.16 million of downtown waterfront urban renewal bonds.

Sale of the 2008 series A bonds is expected on April 9.

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