Texas Transportation Commission to price $1.1 billion G.O. bonds Jan. 23

By Cristal Cody

Springdale, Ark., Jan. 15 - The Texas Transportation Commission plans to price $1.1 billion in general obligation mobility fund bonds on Jan. 23.

UBS Investment Bank is the lead underwriter on the series 2008 bonds, which have serial maturities from 2009 to 2033 and a $351.795 million term bond due 2037.

Moody's Investors Service assigned a rating of Aa1 on Tuesday to the tax-exempt bonds. The ratings outlook is stable.

The bonds are being issued to help pay for transportation projects, including constructing and expanding state highways.

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