Moody's gives Aa3 to Texas State University System bonds

Moody's Investors Service said it assigned the rating of Aa3 to Texas State University System's $230 million series 2008 revenue financing system revenue bonds. The outlook is stable.

The expected sale date is July 25.

Proceeds will be used for constructing and equipping academic buildings, student centers, performing arts centers and parking facilities and other infrastructure projects on the system's San Marcos and Sam Houston State campuses. Remaining proceeds will be used to partially refund balances of the series 1998 A and B bonds.

Moody's also affirmed its Aa3 and A2 underlying ratings on the system's outstanding rated debt.

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