Moody's gives Aa3/VMIG1 to Eastern Municipal Water District, Calif.

Moody's Investors Service said it assigned an Aa3/VMIG1 rating to the Eastern Municipal Water District, Calif.'s $54.62 million water and sewer revenue refunding variable-rate certificates of participation, series 2008C.

The expected sale date is June 17.

The short-term VMIG1 portion of the rating is based on a standby certificate purchase agreement from JPMorgan Chase Bank, NA., which is rated Aaa/P-1 with a stable outlook.

Proceeds will be used to refund the district's 1993B insured variable-rate demand obligations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.