Moody's Investors Service has upgraded to A1 from A2 all sales tax debt issued by the city of Corpus Christi, Texas' Business and Job Development Corporation.

The upgrade affects the corporation's $29 million in outstanding sales tax debt for the Seawall project and the A1 rating is being assigned to the corporation's $33.4 million sales tax revenue refunding bonds, Series 2013 (arena project), $8.34 million sales tax revenue refunding bonds, Series 2013 (baseball stadium project). All prior debt for the arena project and the baseball stadium is being refunded.

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