Moody's Investors Service said it has assigned an A1 rating to El Monte Union High School District, Calif.'s election of 2008 general obligation bonds, Series B in the approximate amount of $35.0 million, and downgraded the rating on the district's outstanding parity debt totaling approximately $131.1 million to A1 from Aa3.

The current offering is secured by an unlimited property tax pledge of the district. Bond proceeds will be used to refund the district's outstanding bond anticipation notes issued in May 2011.

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