Moody's rates Val Verde, Calif., school bonds Aaa/VMIG1

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the Val Verde Unified School District, Calif.'s $50.4 million of variable-rate demand refunding certificates of participation, 2008 series A.

The rating reflects a letter of credit from Bank of America, NA, which is rated Aaa/P-1.

Sale of the bonds was expected on May 6.

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