Moody's rates Puerto Rico Aqueduct bonds Baa3

Moody's Investors Service said it assigned a rating of Baa3 and a stable outlook to the $276.87 million of Puerto Rico Aqueduct and Sewer Authority (Prasa) revenue refunding bonds, 2008 A and B, guaranteed by the Commonwealth of Puerto Rico.

On or around the date of delivery of these refunding commonwealth-guaranteed bonds, Prasa is also expected to issue its Prasa revenue bonds, series A-B (senior lien). A separate report will cover that transaction, and these bonds will not carry the commonwealth guarantee.

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