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Moody's gives Aa3/VMIG1 rating to Wisconsin housing bonds
Moody's Investors Service said it assigned a rating of Aa3/VMIG1 to $56.155 million in variable-rate demand housing revenue bonds, 2008 series A-G, issued by the Wisconsin Housing & Economic Development Authority. The outlook is stable.
The bonds were to be sold May 29. Series A includes $6.73 million in bonds, series B $2.85 million, series C $7.335 million, series D $9.595 million, series E $3.265 million, series F $3.985 million and series G $22.395 million.
The short-term rating is based on the short-term rating of JPMorgan Chase Bank, NA, provider of the standby bond purchase agreement. The bank is rated Aaa for long-term obligations and P-1 for short-term obligations by Moody's.
Proceeds will be used to redeem certain housing revenue bonds of the Wisconsin agency.
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