Moody's rates Charleston County School TANs MIG1

Moody's Investors Service said it assigned a MIG1 rating to Charleston County School District's $65.4 million tax anticipation notes of 2008. The rating is based on the guarantee of the South Carolina School District Credit Enhancement Program.

The expected sale date is July 11, and the notes mature April 1, 2009.

Moody's also affirmed the Aa3 underlying rating assigned to the district's $223.9 million in general obligation bonds outstanding, and removed its positive outlook based on an assessment of credit risk in the absence of the enhancement program.

No outlook is assigned.

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