Fitch Ratings has assigned an 'A+' rating to Lower Colorado River Authority's (LCRA) refunding and improvement revenue bonds series 2009 expected to be issued in an amount up to $300 million. The Rating Outlook is Stable. In addition, Fitch affirms LCRA's outstanding revenue bonds at 'A+' and LCRA's tax-exempt and taxable commercial paper (CP) programs at 'F1+'. Proceeds from the 2009 bonds will refund outstanding CP, fund certain improvements to the system, and pay costs of issuance. The bonds are expected to price June 17, 2009, depending on market conditions. Key rating factors supporting the 'A+' rating include a competitive
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