Moody's gives Aa1 underlying rating to Austin, Texas, bonds

Moody's Investors Service said it assigned an Aa1 underlying rating and stable outlook to City of Austin, Texas' series 2008 public improvement refunding bonds, which are expected to have an amount of $173,175,000.

Moody's also said it affirmed the Aa1 rating and stable outlook on the city's outstanding general obligation debt. The affirmation affects $962 billion of outstanding parity debt including the current offering.

The current offering has an expected sale date of Jan. 31.

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