WASHINGTON -- Armed with double-A ratings from two credit agencies, the Virginia College Building Authority this week will sell the state's first public lease offering since the state Supreme Court withdrew its April decision invalidating lease and appropriation-backed debt.

Moody's Investors Service and Standard & Poor's Corp. on Friday cleared the way for the remarketing of a $31 million college equipment offering by the authority by assigning the ratings. Eddie Moore, the state treasurer, had said Virginia would not proceed with the issue unless it obtained ratings for the issue.

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