Moody's rates Austin Community College bonds Aa3

Moody's Investors Service said it assigned an Aa3 rating to the Austin County Community College District Public Finance Corp.'s $121.45 million series 2008 lease revenue bonds.

The sale date was July 24.

Proceeds will be used to acquire land and construct and equip a new campus facility in Round Rock, Texas.

Moody's also confirmed its Aa2 issuer general obligation rating and A1 revenue rating for the district's debt, affecting $97.19 million in general obligation bonds outstanding and $49.06 million in limited revenue backed obligations. The outlook is stable.

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