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MINNESOTA REFUNDED GENERAL OBLIGATION BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, May 17 /PRNewswire/ -- Certain maturities of seven Minnesota general obligation bond issues are raised to `AAA' from `AA+' by Fitch.
 The `AAA' rating reflects the fact that the refunded bonds are secured by an irrevocable escrow composed of direct, noncallable obligations of the U.S. government. McGladrey & Pullen verifies 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 general obligation bond issues to be refunded and call provisions are listed below:
 -- State general obligation bonds dated April 1, 1979; all bonds ($26.55 million) maturing April 1, 1994-1999, will be called on Oct. 1, 1993 at par.
 -- State trunk highway refunding bonds dated April 1, 1988; all bonds ($6.375 million) maturing Aug. 1, 1999-2003, will be called on Aug. 1, 1998 at par.
 -- State various purpose refunding bonds, Series A dated April 1, 1988; all bonds ($32.315 million) maturing Aug. 1, 1999-2007, will be called on Aug. 1, 1998, at par.
 -- General obligation state various purpose bonds dated Aug. 1, 1989; all bonds ($108.5 million) maturing Aug. 1, 2000-2009, will be called on Aug. 1, 1999 at par.
 -- General obligation state sports and health club tax bonds dated Aug. 1, 1989; all bonds ($1.55 million) maturing Aug. 1, 2000-2009, will be called on Aug. 1, 1999, at par.
 -- General obligation state various purpose bonds, Series 1990A dated July 1, 1990; all bonds ($74.25 million) maturing Aug. 1, 2001-2009, will be called on Aug. 1, 2000, at par.
 -- General obligation state infrastructure bonds, Series 1990B dated July 1, 1990; all bonds ($23.65 million) maturing Aug. 1, 2001-2009, will be called on Aug. 1, 2000, at par.
 -0- 5/17/93
 /CONTACT: Stewart Simon of Fitch, 212-908-0508/


CO: ST: Minnesota IN: SU: RTG

CK -- NY058 -- 9210 05/17/93 12:27 EDT
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Date:May 17, 1993
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