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General Obligations

OREGON (STATE OF) - Moody's Research Report

MOODY'S ASSIGNS Aa1 RATING TO THE STATE OF OREGON'S $370.1 MILLION GENERAL OBLIGATION BONDS

Posted on: March 6, 2012, 4:33 pm

NEW YORK, March 06, 2012 --Moody's Investors Service has assigned Aa1 rating to the State of Oregon's $370 million General Obligation Bonds Series 2012, consisting of Series H ($74.2 million various projects), Series I ($53.4 million ODOT Project-Tax Exempt) , Series J ($12.6 million ODOT Project-Taxable), Series K ($60.5 million Tax Exempt- Refunding ), Series L ($161.4 million Tax Exempt Refunding ), and Series M ($7.7 million Taxable- Refunding ). The bonds are expected to price on or around March 20th. Proceeds from the sale of the Series 2012H will be used to finance various capital projects around the state. Proceeds of the Series 2012I and J will be used to finance projects for the department of transportation and proceeds of Series 2012 KLM bonds will be used to refund outstanding bonds for net present value savings of approximately $31.9 million (11.7%)...

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