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TEXAS (STATE OF) - Moody's Research Report

MOODY'S ASSIGNS Aaa RATINGS TO $37.9 MILLION OF TEXAS GENERAL OBLIGATION REFUNDING BONDS, ISSUED THROUGH THE TEXAS WATER DEVELOPMENT BOARD

Posted on: April 18, 2012, 4:11 pm

NEW YORK, April 18, 2012 --Moody's Investors Service has assigned Aaa ratings to the State of Texas' $15.7 million General Obligation Water Financial Assistance Refunding Bonds, Taxable Series 2012D (Economically Distressed Areas Program) and $22.2 million Series 2012E (State Participation Program), to be issued through the Texas Water Development Board. Proceeds of the bonds, scheduled to price on May 1, will be used to refund certain state general obligation bonds issued by the board to finance loans to political subdivisions for water projects for expected present value savings exceeding 10% without extending final bond maturities...

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