DALLAS — After Standard & Poor's lifted its credit rating into the A category, the Central Texas Turnpike System will refund $840.9 million of outstanding debt used to build a toll-road system around Austin.

The bonds will be issued by the Texas Transportation Commission, which operates the toll system through the Texas Department of Transportation. This week's refunding deal through senior manager JP Morgan precedes a $1 billion TTC issue coming to market the first week in December.

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