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BALTIMORE WATER, WASTEWATER BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 BALTIMORE WATER, WASTEWATER BONDS RATED 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, May 28 /PRNewswire/ -- Two new Baltimore bond issues separately secured by the city's water and wastewater systems respectively are rated 'A+' by Fitch. Baltimore is offering $23.7 million Project and Refunding Revenue Bonds (Water Projects) Series 1992-A and $16.8 million Project and Refunding Revenue Bonds (Wastewater Projects) Series 1992-A for negotiation the week of June 8 with Kidder, Peabody & Co.
 Baltimore's water and wastewater systems are well maintained enterprises serving a strong and diverse service area. Although the systems serve a large area, the security on the bonds is limited almost exclusively to revenues generated from the city of Baltimore component of the service area. Other legal covenants relate to the system in its entirety, and combined with the pledge, legal provisions are good. The systems are separately operated, and bonds are secured by each system's own revenues and resolutions. The financial performance of each system has been strong, with rate increases occurring on an as-needed basis, about every three years. The systems are in generally good condition and the capital plans for each are manageable. The credit trend is stable.
 -0- 5/28/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: City of Baltimore ST: Maryland IN: SU: RTG


LR -- NY072 -- 4846 05/28/92 15:02 EDT
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Publication:PR Newswire
Date:May 28, 1992
Words:224
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