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General Obligations

CALIFORNIA (STATE OF) - Moody's Research Report

Moody's assigns A1 rating to $2.5 billion California general obligation bonds; affirms A1 on General Obligation Bonds (Stem Cell Research and Cures Bonds, Series 2009A) (Federally Taxable Build America Bonds) in conjunction with their remarketing

Posted on: March 1, 2013, 8:02 pm

NEW YORK, March 01, 2013 --Moody's Investors Service has assigned an A1 to the State of California's upcoming sale of $2.5 billion of general obligation bonds. The state tentatively plans to sell $1.1 billion of Various Purpose General Obligation Bonds, $1.1 billion of Various Purpose General Obligation Refunding Bonds, and $310 million of Various Purpose General Obligation bonds (Federally Taxable). The state plans to sell the bonds the week of March 11. At this time Moody's has also affirmed the A1 rating on the State of California General Obligation Bonds (Stem Cell Research and Cures Bonds, Series 2009A) (Federally Taxable Build America Bonds), which were originally sold in April, 2009, in conjunction with their remarketing in advance of the mandatory tender date of April 2, 2013. The outlook is stable...

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