Moody's rates Virginia Beach, Va., bonds Aa1

Moody's Investors Service said it assigned an Aa1 rating to Virginia Beach, Va.'s $90 million of general obligation public improvement bonds, series 2008.

At the same time, Moody's said it affirmed the city's Aa1 G.O. rating, affecting about $530 million of outstanding debt.

Sale of the 2008 bonds is expected on March 11.

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