Moody's rates Waterbury, Conn., bonds Aa2

Moody's Investors Service said it assigned a global scale rating of Aa2 to the City of Waterbury, Conn.'s $320 million taxable general obligation pension bonds, series 2008A.

The municipal scale rating is a Baa1, and the outlook is positive.

Sale of the bonds is expected on May 21.

The proceeds of the current offering will be used to eliminate a large portion of the unfunded liability of the city's pension system. Payment of debt service on the bonds is an absolute and unconditional obligation of the city.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.