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Moody's rates Washington College, Md., bonds Aa2/VMIG1
Moody's Investors Service said it assigned a rating of Aa2/VMIG1 to the Town of Chesterown, Md.'s variable-rate demand economic development project and refunding revenue bonds (Washington College project), series 2008A and 2008B.
The issue includes $54 million of series 2008A (tax-exempt) and $12 million of series 2008B (taxable).
The rating reflects a letter of credit from RBS Citizens NA, which is rated Aa2/P-1.
Sale of the bonds was expected on May 1.
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