DALLAS - With $5.4 billion of toll-road related projects on the drawing board, Harris County, Tex., today plans to issue $350 million of senior-lien toll road revenue bonds with maturities stretching to 40 years.

The negotiated deal led by Goldman, Sachs & Co. comes on the heels of a credit boost to Aa3 from A1 by Moody's Investors Service and to AA-minus from A-plus by Fitch Ratings. Along with a AA-minus from Standard & Poor's, the ratings negate the need for credit enhancement on the bonds, according to Edwin Harrison, the county's director of financial services.

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