MOODY'S ASSIGNS MIG 1 RATING TO CORY RAWSON LOCAL SCHOOL DISTRICT'S (OH) $6.3 MILLION SCHOOL FACILITIES CONSTRUCTION AND IMPROVEMENT BOND ANTICIPATION NOTES, SERIES 2009 (GOULT)

Posted on: December 17, 2009, 3:51 pm

NEW YORK, Dec 17, 2009 -- Moody's Investors Service has assigned a MIG 1 rating to Cory Rawson Local School District's (OH) $6.3 million School Facilities Construction and Improvement Bond Anticipation Notes, Series 2009 (General Obligation Unlimited Tax). Proceeds of the notes will provide temporary financing for the construction of a new school building. The current offering represents the $6.3 million in borrowing that was authorized by district voters in November 2009. Debt service on the current issue is secured by the district's general obligation unlimited tax pledge. The notes are to be sold in a negotiated sale on December 18, 2009, and will mature on June 9, 2010. In March or April of 2010, the district plans to issue $6.3 million in general obligation unlimited tax bonds to provide permanent financing for the project. Bond proceeds will redeem the current notes prior to maturity...

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