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Article: OCTA re-enters market with tax-exempt commercial paper.
- Article from:
- Business Wire
- Article date:
- April 13, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ORANGE, Calif.--(BUSINESS WIRE)--April 13, 1995--The Orange County Transportation Authority Wednesday issued $74.2 million in short-term tax-exempt commercial paper notes.
OCTA is using the 1995 commercial paper program to restructure the Authority's debt and to strengthen the agency's financial foundation. By entering the market, OCTA can take advantage of current variable low interest rates of approximately 4 percent.
Moody's Investors Service rated OCTA's 1995 commercial paper P-1 and Standard & Poor's rated the notes A-1. These ratings are the highest designation the notes were eligible to receive.
OCTA's commercial paper is part of the ...