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MWRA REVENUE BONDS 'A' RATING AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

 MWRA REVENUE BONDS 'A' RATING AFFIRMED BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 14 /PRNewswire/ -- Massachusetts Water Resources Authority general revenue bonds have been affirmed at an 'A'. The authority will offer $450 million general revenue refunding bonds, 1992 Series B, through negotiation with Goldman Sachs & Co. during the next few weeks, based on market conditions.
 Massachusetts Water Resources Authority (MWRA) is now well underway in one of the largest borrowing and construction programs in the commonwealth. The authority is proceeding with its capital program and although certain problems and difficulties have arisen, none have been of a magnitude to measurably slow, or increase costs of, the numerous and sizable projects.
 Credit characteristics of the authority remain good, as MWRA has maintained its practice of conservative budgeting and operating; results have consistently outperformed estimates. Rates have now increased dramatically, albeit not in the originally projected scope, and pressures will continue to mount on both the communities and the ratepayers.
 Legal security provided by both the statute creating the authority and the bond resolution provide strong bondholder protections. The credit trend is stable.
 -0- 9/14/92
 /CONTACT: Colleen Woodell, 212-908-0507, or Alan Spen, 212-908-0594, both of Fitch/ CO: Massachusetts Water Resources Authority ST: Massachusetts IN: UTI SU: RTG


KD -- NY077 -- 9295 09/14/92 16:34 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
Words:218
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