Moody's raises Humble I.S.D., Texas, underlying rating to Aa3

Moody's Investors Service said it upgraded to Aa3 from A1 the underlying rating on Humble Independent School District, Texas.

At the same time, Moody's said it assigned the Aa3 rating to the district's $73.35 million of unlimited tax school building bonds, series 2008A, and an Aaa enhanced rating to the district's $23.4 million of unlimited tax school refunding bonds, series 2008B.

The 2008A bonds will not be rated Aaa because they are not qualified to receive the Texas Public School Fund guarantee.

Moody's said the district is pursuing bond insurance for the portion of the issue that is not qualified for the guarantee.

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