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DALLAS (CITY OF) TX - Moody's Research Report

Moody's assigns Aa1 rating to City of Dallas [TX] estimated amounts of $270 million for Waterworks and Sewer System Revenue Refunding, Series 2012A and $107 million Waterworks and Sewer System Revenue Refunding Bonds,Taxable Series 2012B

Posted on: August 3, 2012, 2:31 pm

NEW YORK, August 03, 2012 --Moody's Investors Service has assigned a Aa1 rating to the City of Dallas (TX) estimated total amount $377 million consisting of $270 million Waterworks and Sewer System Revenue Refunding Bonds, Series 2012A and $107 million Waterworks and Sewer System Revenue Refunding Bonds, Taxable Series 2012B. Concurrently, Moody's has affirmed the Aa1 rating on the outstanding $1.5 billion net of the refunding bonds. The outlook is stable. Proceeds from the bonds totaling $156 million will take out outstanding commercial paper and the remaining amount will refund outstanding debt for an estimated 12.4% net present value savings...

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