Fitch rates Texas G.O. bonds AA+

Fitch Ratings said it assigned an AA+ rating to the Texas Public Finance Authority's $225 million general obligation and refunding bonds, series 2008A.

The bonds are expected to sell through negotiation the week of July 7.

Series 2008A includes $161.7 million in refunding bonds and $56.7 million in new money bonds.

Proceeds will refund a portion of G.O. bonds to refinance projects for the state department of criminal justice, department of mental health and mental retardation and the youth commission, as well as funding repairs and renovations of state department of criminal justice facilities and land acquisition and construction and renovation projects for the state department of public safety.

Fitch also affirmed the AA+ rating on the state's outstanding G.O. bonds. The outlook is stable.

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