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Moody's rates Orlando-Orange County Expressway bonds A1
Moody's Investors Service said it assigned an A1 underlying rating to the Orlando-Orange County Expressway Authority, Fla.'s $225 million of refunding revenue bonds, series 2008A. The outlook is stable.
Sale of the bonds is scheduled for Feb. 28.
The bonds are expected to be insured by a provider rated by Moody's. Subject to a review of the insurance policy, the bonds will carry the financial strength rating of the insurer, but Moody's said it will maintain its underlying rating.
Moody's also affirmed its A1 rating on the authority's outstanding parity debt.
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