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MOODY'S ASSIGNS 'Aa' RATING TO STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION BONDS; INITIAL OFFERING UNDER NEW SECURITY PROVISIONS

      MOODY'S ASSIGNS  Aa' RATING TO STATE OF FLORIDA DEPARTMENT OF


TRANSPORTATION BONDS; INITIAL OFFERING UNDER NEW SECURITY PROVISIONS
    NEW YORK, Nov. 11 /PRNewswire/ -- Effective today, Moody's Investors Service assigned a "Aa" rating to the state of Florida's $50 million full faith and credit, right-of-way acquisition and bridge construction bonds.
    According to Moody's, "The full faith and credit of the state, with its substantial economic resources and moderate debt, provide strong support for these bonds.  This initial offering was constitutionally authorized and as payable from substantial pledged motor and special fuel taxes.  Under the 1991 Bond Resolution, $110 million of additional bonds are authorized but unissued.  Proceeds will finance property acquisition for roadways and bridge construction."
    -0-       11/11/91
    /CONTACT:  George Leung, 212-553-0342, or Dan Aschembach, 212-553-0880, both of Moody's/ CO:  State of Florida ST:  Florida IN: SU:  RTG SH-SM -- NY061 -- 3133 11/11/91 15:47 EST
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Publication:PR Newswire
Date:Nov 11, 1991
Words:148
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