BRADENTON, Fla. -Moody's Investors Service on Monday upgraded Florida's Citizens Property Insurance Corp.'s high-risk account bonds to A2 from A3 ahead of the planned sale of between $1.5 billion and $2 billion of fixed-rate debt.

The upgrade incorporates the fact that the policy count for the high-risk account has moderated in the past year, as well as other factors such as two years without hurricanes, expanded claims-paying resources, an expanded base on which to assess surcharges to pay claims, and continued government support, said a report by Moody's analyst Emily Raimes.

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