Moody's rates Indianapolis bonds A2

Moody's Investors Service said it assigned a credit rating of A2 to the City of Indianapolis' $115 million of gas utility distribution system second-lien multi-mode revenue refunding bonds, series 2008.

Separately, Moody's said it assigned a credit rating of A2 to the city's Thermal Energy System's $50 million of first-lien multi-mode revenue refunding bonds, series 2008.

Sale of the gas bonds is expected on March 30.

Moody's also said it affirmed the A2 rating on the city's outstanding subordinate-lien bonds, the Aa3 rating on its senior-lien bonds and the A2 rating on its outstanding thermal energy system first-lien series 2001 A bonds.

The outlook is stable.

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