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Fitch assigns AA to Washington G.O. bonds
Fitch Ratings said it assigned an AA rating to $823.09 million State of Washington general obligation bonds scheduled to sell competitively on July 9.
The offering consists of three series, which will be bid separately as follows: $492.505 million various-purpose G.O. bonds, series 2009A; $260 million motor vehicle fuel tax G.O. bonds, series 2009B; and $70.585 million G.O. bonds, series 2009T (taxable).
The series 2009A bonds will be due July 1, 2014-2033, callable beginning July 1, 2018. The series 2009B bonds will be due July 1, 2009-2033 and are also callable beginning July 1, 2018. The series 2009T bonds will mature July 1, 2009-2014 and are not subject to redemption prior to maturity.
Fitch also affirmed the AA rating assigned to about $12.9 billion outstanding state G.O. bonds. The outlook is positive.
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