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Moody's rates Texas Water Development bonds Aaa
Moody's Investors Service said it assigned an Aaa rating to the Texas Water Development Board's $258 million series 2008 B state revolving fund subordinate-lien revenue bonds.
The expected sale date is June 26.
Proceeds will reimburse the board for funds loaned at below-market rates under the state's Clean Water State Revolving Fund Program.
Moody's affirmed the Aaa ratings on the board's outstanding senior and subordinate-lien debt. The outlook is stable.
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