Moody's rates Seattle G.O. bonds Aa1

Moody's Investors Service said it assigned an Aa1 rating to Seattle's $144.985 million limited tax general obligation improvement and refunding bonds, series 2008. The outlook is stable.

The expected sale date is June 18.

Moody's also affirmed its Aaa rating on the city's $160.6 million of outstanding unlimited-tax G.O. bonds and its Aa1 rating on the city's $589.5 million of outstanding limited-tax G.O. bonds.

Proceeds of the current offering will fund a variety of capital projects as well as refund a portion of the city's outstanding variable-rate series 1996 C&D G.O. bonds.

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