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Article: Fitch Rates University of Texas System's $280MM 2008A Bonds 'AAA'.
- Article from:
- Business Wire
- Article date:
- November 25, 2008
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NEW YORK -- Fitch Ratings rates approximately $280,000,000 of the Board of Regents of The University of Texas System's (the system's) Revenue Financing System (RFS) bonds, series 2008A 'AAA'. The bonds, which will be issued in a traditional fixed rate mode, are expected to price via negotiated sale on or about Dec. 9, 2008. Proceeds will be applied to refund approximately $265 million of outstanding RFS commercial paper notes.
Fitch also affirms the system's debt ratings as follows:
--Approximately $2.3 billion of outstanding RFS fixed-rate bonds at 'AAA';
--Approximately $1.0 billion of outstanding RFS variable-rate demand bonds (VRDBs) at ...