Moody's rates Aurora, Colo., COPs Aa3/VMIG1

Moody's Investors Service said it assigned an Aa3/VMIG1 rating with a stable outlook to the City of Aurora, Colo., adjustable-rate refunding certificates of participation (COPs), series 2008A, in the approximate amount of $68.7 million.

At this time, Moody's affirmed the city's Aa2 general obligation bond rating as well as the Aa3 rating on the parity COPs net of the refunding (series 2004, 2005, 2006A-1), Aa3 rating on the general fund bonds, series 1999, and the A1 rating on the equipment lease certificates, series 2002.

The current offering will fully retire the city's outstanding variable-rate demand certificates, series 2006A-2, which were insured by FGIC.

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