Moody's assigns A1 to Miami-Dade County sewer bonds

Moody's Investors Service said it assigned an A1 rating to Miami-Dade County, Fla.'s $67.475 million series 2008A and $372.4655 million series 2008B water and sewer system revenue refunding bonds. The outlook is stable.

The expected sale date is July 9.

Moody's also affirmed its A1 rating on the county's $997.2 million parity water and sewer revenue bonds.

Proceeds of the series A bonds will provide for a $70 million swap termination payment, and proceeds of the series 2008 B bonds, with other county funds, will refund $415.2 million of insured series 1994 variable-rate water and sewer system revenue bonds.

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