NEW YORK - Moody's Investors Service said it has downgraded the rating on the Miami-Dade Transit, Fla.'s (MDT) senior sales surtax revenue bonds to A1 from Aa3 and revised the outlook to stable from negative.

Concurrently, Moody's has assigned an A1 rating and stable outlook to the senior sales surtax revenue bonds, Series 2012. Proceeds of the bonds will be used to fund various transit and public works projects, refund outstanding bond anticipation notes and fund a debt service reserve fund.

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