Moody's rates Seattle airport facility bonds A2

Moody's Investors Service said it assigned an A2 rating to $385 million in customer facility charge revenue bonds issued by the Port of Seattle. The outlook is stable.

The bonds are to be sold in three series: 2008A, $18 million; 2008B-2, $302 million; and 2008B-2, $65 million. The expected sale date is June 20.

Proceeds will be used to pay for the planning, construction and equipping of a consolidated rental car facility, a bus maintenance facility, roadway improvements, and acquisition of buses.

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