RI plans bond offering
9:05 AM Wed, Nov 26, 2008 | Permalink
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Rhode Island plans to borrow $107 million next week to finance a series of voter-approved projects, including a clean-water fund, historic preservation efforts and improvements at the Roger Williams Park Zoo in Providence. The deal, managed by Morgan Stanley, comprises $86.8 million in tax-exempt bonds, $8.5 million in taxable securities and a $12 million series to refinance debt from 2000. Rhode Island, which last month had a 9.3 percent unemployment rate, was downgraded one grade by Fitch Ratings to AA- on Oct. 14. Standard & Poor's rates the state AA and Moody's Investors Service assigns its Aa3. 
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