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ISLIP (NY) $11.8 MIL. GO BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Aug. 6 /PRNewswire/ -- Islip (NY)'s $11.8 million Public Improvement (Serial) Bonds, 1993 are rated 'A+' by Fitch. The bonds will be offered competitively on August 12. Islip's $98.8 million outstanding GO bonds are affirmed at 'A+'.
 The outlook for the Town of Islip is generally favorable despite the ongoing economic slowdown. As the town's population and economic base grew dramatically in the last 20 years, Islip has maintained a good level of service provision and sound financial performance. Current resources appear adequate to meet needs within the context of slower growth. Town functions generally are limited compared to other local government units within the state, therefore external financial pressures are not great. The major town function, solid waste collection and disposal, has been addressed successfully by Islip with its resource recovery plant and recycling program. The capital program is manageable given existing debt payout. The credit trend is stable.
 -0- 8/6/93
 /CONTACT: Ruth M. Levine of Fitch, 212-908-0605/


CO: ST: New York IN: SU: RTG

TM -- NY056 -- 0436 08/06/93 17:00 EDT
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Publication:PR Newswire
Date:Aug 6, 1993
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