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MOODY'S INVESTORS SERVICE ASSIGNS Aa RATING TO WARREN COUNTY, KENTUCKY PUBLIC JUDICIARY CORPORATION LEASE REFUNDING REVENUE BONDS

 MOODY'S INVESTORS SERVICE ASSIGNS Aa RATING TO WARREN COUNTY,


KENTUCKY PUBLIC JUDICIARY CORPORATION LEASE REFUNDING REVENUE BONDS
 NEW YORK, Jan. 20 /PRNewswire/ -- Effective today, Moody's assigned a Aa rating to Warren County Kentucky Public Judiciary Corporation's Lease Refunding Revenue Bonds Series 1992. These bonds are expected to be sold competitively on Jan. 21, 1992 in the amount of $2,245,000. This rating action places Warren County's lease rental obligations among the highest rated in Kentucky. Edgewood Public Properties Corporation's First Mortgage Revenue Bonds are the only other Aa rated lease rental obligations in the Commonwealth.
 The high quality rating is based on the following factors: modest direct net debt; strong financial operations supported by steadily growing taxable values; a diverse tax base; and the beneficial presence of Western Kentucky University, an important university within the state system. Warren County is located in south-central Kentucky and Bowling Green, the county seat, is the Commonwealth's fifth largest city. The county exhibits modest direct net debt and manageable overall debt levels. The debt outstanding is retired at an above average rate and county officials anticipate no future borrowing plans. Very well managed finances, displaying substantial cash reserves, are supported by steadily growing taxable values. Western Kentucky University, a significant state university with growing enrollment at 15,767 students, adds regional stability and helps keep unemployment levels below Commonwealth averages and income levels above comparable norms.
 At this time, Moody's also has upgraded from A to Aa Warren County Public Judiciary Corporation's First Mortgage Bonds dated July 1, 1985. The bonds maturing from July 1, 1996 through July 1, 2005 are expected to be refunded by the current issue at their first call date July 1, 1995; the upgrade affects bonds maturing July 1, 1992 through July 1, 1995 in the amount of $410,000 outstanding.
 -0- 1/20/92
 /CONTACT: Marcy Edwards, vice president, 212-553-0322, or Amy Hamburg, 212-553-7782, both of Moody's/ CO: Warren County, Ky. Public Judiciary Corp. ST: Kentucky IN: SU: RTG SM-OS -- NY038 -- 1441 01/20/92 13:13 EST
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Publication:PR Newswire
Date:Jan 20, 1992
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