Moody's rate Ventura County, Calif., notes MIG1

Moody's Investors Service said it assigned a MIG1 rating to Ventura County, Calif.'s 2008-2009 tax and revenue anticipation notes.

The notes are being issued to fund the county's mid-year cash flow needs and are secured by a pledge of unrestricted, fiscal 2009 general fund receipts, as well as receipts from several smaller funds.

Sale of the $155 million note offering was expected on June 5.

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