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MASSACHUSETTS PORT AUTHORITY REFUNDING BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Sept. 23 /PRNewswire/ -- Certain maturities of Massachusetts Port Authority Revenue Refunding Bonds, Series 1985-A and 1985-B, and Revenue Bonds, Series 1988-A, are rated "AAA" by Fitch. The "AAA" rating reflects the fact that the refunded bonds are secured by an irrevocable escrow composed of direct, non-callable obligations of the U.S. government.
 As of March 15, 1993, Massachusetts issued $107,470,000 Revenue Refunding Bonds Series 1993 A and B to advance refund portions of the outstanding 1985-A Series bonds maturing July 1, 1996, through 2000 and a portion of term bonds due 2005; a portion of the outstanding Series 1985-B term bonds maturing July 1, 2015; and portions of the outstanding Series 1988-A bonds maturing July 1, 1996, through 2003 and portions of term bonds due 2008 and 2018.
 Ernst & Young has verified the mathematical accuracy of the computations showing that the escrowed securities plus a small initial cash deposit will be sufficient to pay interest, principal and the redemption price of the refunded bonds to their respective call dates.
 Details of the port authority revenue bonds to be advance refunded and the call provisions are listed below:
 -- Massachusetts Port Authority Revenue Refunding Bonds, Series 1985-A, dated Sept. 1, 1985: $5,440,000 of $7,675,000 bonds maturing on July 1, 1996, through 2000 (CUSIP 575895 FM4, FN2, FP7, FQ5, FR3); and $6,740,000 of $9,550,000 term bonds maturing July 1, 2005 (CUSIP 575895 FS1) will be called on July 1, 1995 at a redemption price of 102.
 -- Massachusetts Port Authority Revenue Refunding Bonds, Series 1985-B, dated Sept. 1, 1985: $35,270,000 of $49,700,000 term bonds subject to mandatory redemption on July 1, 2004, through 2015 (CUSIP 575895 FT9) will be called on July 1, 1995, at a redemption price of 102.
 -- Massachusetts Port Authority Revenue Bonds, Series 1988-A, dated Oct. 15, 1988: $5,745,000 of $16,910,000 bonds maturing on July 1, 1996, through 2003 (CUSIP 575895 JY4, JZ1, KA4, KB2, KC0, KD8, KE6, KF3); $8,070,000 of $16,705,000 term bonds due 2008 (CUSIP 575895 KG1); and $28,780,000 of $59,515,000 term bonds due 2018 (CUSIP 575895 KH9) will be called on July 1, 1995, at a redemption price of 102.
 -0- 9/23/93
 /CONTACT: Lisa M. Schieffelin of Fitch, 212-908-0689/


CO: Massachusetts Port Authority ST: Massachusetts IN: SU: RTG

TW -- NY082 -- 5391 09/23/93 16:55 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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