Moody's assigns Aaa rating to Charlotte, N.C., bonds

Moody's Investors Service said it assigned an Aaa rating to the City of Charlotte, N.C.'s $184 million general obligation refunding bonds, series 2008.

Sale of the bonds was expected on May 15.

At the same time Moody's affirmed the Aaa rating on $810.7 million of G.O. debt outstanding, including the current issue.

The current issue, which is secured by the city's unlimited tax pledge, will refund series 1998 and 1999 bonds for an expected net present value savings of 8.07% of refunded principal, without change to the current maturity structure.

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