Moody's corrects size of Wisconsin refunding bonds issue

Moody's Investors Service amended its March 17 release about the State of Wisconsin's general fund annual appropriation refunding bonds of 2008, series A (taxable fixed-rate) and series B (taxable floating-rate), changing the total issue size to $798 million from $965 million.

The bonds were rated A1.

According to the April 1 correction, the issue was expected to include about $498 million of series A and about $300 million of series B.

As previously reported, the outlook was revised to negative from stable on the state's general obligation debt and annual appropriation bonds.

The outlook change affects about $4.4 billion of G.O. bonds, which are rated Aa3, and $850 million of 2003 series A appropriation bonds, which are rated A1.

Sale of the 2008 bonds was expected on March 25.

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