The Rhode Island Health and Educational Building Corp. sold a $15 million tax-exempt bond issue on behalf of East Providence for health projects and safety repairs at the distressed city’s public schools.

Moody’s Investors Service rated the Series 2012B bonds Aa3 with a negative outlook, based on the programmatic rating of the state school construction aid intercept enhancement program. The state’s general obligation bond rating is Aa2, the outlook also negative.

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