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LOUDOUN COUNTY (VA) GENERAL OBLIGATIONS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 23 /PRNewswire/ -- Loudoun County (VA)'s new issue general obligation bonds are rated 'AA' by Fitch. Outstanding general obligation debt is affirmed at 'AA'. The county will offer $36.8 million General Obligation Capital Improvement and Refunding Bonds, Series 1993A on or about March 30 through negotiation by a syndicate led by Smith Barney, Harris Upham & Co.
 The prospects for Loudoun County are good as its receives the benefits of its location and competitive position in the Washington, D.C. metropolitan area. During the 1980s, the county grew dramatically by all measures, but careful and thoughtful management enabled this growth to occur while maintaining performance consistent with high quality credit. While the tax base declined during the recession, population continued to increase. A good budget monitoring system allowed officials to quickly respond to budgetary weakness at the recession's onset in fiscal 1991. Subsequent budgets reduced growth by streamlining county operations. The county has been able to maintain sound financial position and moderate debt ratios; policies and procedures are in place to ensure continued good performance. The credit trend is stable.
 -0- 03/23/93
 /CONTACT: Ruth M. Levine of Fitch, 212-908-0605/


CO: ST: Virginia IN: SU: RTG

AH -- NY062 -- 8739 03/23/93 14:36 EST
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Publication:PR Newswire
Date:Mar 23, 1993
Words:209
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