Texas TRAN deal is week's Lone Star

The state of Texas is riding into the market this week with the biggest short-term deal of the year, offering up $5.4 billion of tax and revenue anticipation notes in a competitive sale on Tuesday. The top-tier paper is rated MIG-1 by Moody’s, SP-1-plus by S&P, F1-plus by Fitch and K1-plus by Kroll.

They say everything is bigger in Texas.

But this week that client actually comes true as the Lone Star State hits the market with the biggest note sale of the Year Texas set to offer up five point four billion dollars of Tax and Revenue anticipation notes and competitive sale on Tuesday.

The top-tier trends are rated make one by Moody's s B1 plus bi es P F1 plus by fish and K1 plus back roll the short-term note ratings benefit from the state's gilt-edged long-term Bond rating of AAA from bowl for rating agencies.

Moody's said it's rating reflects the states pledged to pay your principal and interest when they're due on August 30th, 2018 the rating agency also noted the state's long history of conservative financial management and control his powers to be able to hold back spending or divert funds to ensure full And Timely no repayment Texas transducers bigger than the entire four billion dollar new issue bonds.

Like for the week buyers are both long and short term.

We'll take note.

I'll keep one at this has been your Muni minute.