MOODY'S ASSIGNS Aaa RATINGS TO $1 BILLION OF UTAH G.O. BONDS

Posted on: September 14, 2010, 1:24 pm

NEW YORK, Sep 14, 2010 -- Moody's Investors Service has assigned Aaa ratings to the State of Utah's General Obligation Bonds, Series 2010A, Federally Taxable General Obligation Bonds, Series 2010B (Issuer Subsidy-Build America Bonds), and General Obligation Refunding Bonds, Series 2010C. Concurrently, we have affirmed the Aaa ratings assigned to $2 billion of outstanding general obligation bonds, the Aa1 ratings assigned to approximately $347 million of outstanding State Building Ownership Authority lease revenue bonds, and the Aaa programmatic rating assigned to the state's School District Bond Guaranty Program. Proceeds of the current issues, scheduled to price the week of September 20, will be used for a variety of building projects at Utah's higher education institutions, to help finance the state's ongoing highway construction program, and to possibly advance refund certain series of outstanding general obligation bonds...

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