Moody's gives Aa2 to University of Oregon bonds

Moody's Investors Service said it assigned a rating of Aa2 with a stable outlook to the state of Oregon's general obligation bonds, in conjunction with the upcoming sale of $200 million State Board of Higher Education 2008 series A federally taxable G.O. bonds.

The expected sale date is June 16.

Proceeds will finance construction of a new basketball arena on the University of Oregon campus.

Moody's also affirmed the Aa2 rating on Oregon's approximately $4.4 billion outstanding general obligation debt and the Aa3 rating of approximately $1.1 billion in certificates of participation.

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