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LYNCHBURG (VA) $36.1 MILLION GO BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 15 /PRNewswire/ -- Lynchburg (VA)'s $36.1 million general obligation Public Improvement Refunding Bonds, Series 1993 are rated 'AA' by Fitch. The county's outstanding 'AA' general obligation bonds are affirmed. The new bonds will be offered through negotiation with Craigie, Inc. on or about March 18th.
 Lynchburg, historically an industrial city, has successfully maintained its position as an employment and retail center for a large surrounding area. While the city's population has stabilized, both the tax and employment bases continue to show modest increases. The recession's impact has been relatively slight and unemployment continues below that of the state and nation. Financial operations are very well managed, with good planning and budgeting providing for strong annual performance. The city's debt burden is moderate, with general obligation-backed enterprise debt self-supporting. The capital plan reflects only modest needs and the city's generally completed infrastructure. The credit trend is stable.
 -0- 03/15/93
 /CONTACT: Ruth M. Levine of Fitch, 212-908-0605/


CO: ST: Virginia IN: SU: RTG

AH -- NY091 -- 6244 03/15/93 17:09 EST
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Publication:PR Newswire
Date:Mar 15, 1993
Words:176
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