Virginia Beach Scores Aa3 for $165M Construction Sale

Sanchez, Humberto
August 2003
Bond Buyer;8/27/2003, Vol. 345 Issue 31707, p33
Trade Publication
Reports that the investment advisory agency, Moody's Investors Service Inc. on August 26, 2003 assigned a Aa3 rating with a stable outlook to 165 million dollars of revenue bonds that the Virginia Beach Development Authority plans to issue in a competitive sale on September 9, 2003 to help finance construction of a convention center, two parking garages and other projects. Reasons cited for assigning the sound rating; Rating given to the deal by other rating agencies; Other projects to be funded by the proceeds of the sale; Significance of the proposed projects.


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