Moody's rates Texas G.O. bonds Aa1

Moody's Investors Service said it assigned an Aa1 rating to Texas' $225 million general obligation and refunding bonds, series 2008A, issued through the Texas Public Finance Authority. The outlook is stable.

The expected sale date is July 7.

Proceeds will be used to current refund certain maturities of the state's series 1998B G.O. refunding bonds for debt service savings and to finance various building and renovation projects for two state agencies, the Department of Criminal Justice and the Department of Public Safety.

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