Moody's Investors Service said it has assigned a Aa3 rating to Chabot Las Positas Community College District, Calif.'s $300 million 2013 general obligation refunding bonds and downgraded to Aa3 from Aa2 the rating on the district's $438 million in outstanding general obligation debt.

The proceeds of the 2013 bonds will be used to refund a portion of the district's outstanding GO debt for debt service savings.

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