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NIAGARA FALLS, N.Y. GENERAL OBLIGATIONS RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --

 NIAGARA FALLS, N.Y. GENERAL OBLIGATIONS RATED 'BBB+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 4 /PRNewswire/ -- Niagara Falls, New York general obligation bonds have been rated 'BBB+' by Fitch. The city will offer $20.7 million general obligation bonds through negotiation this week with PaineWebber Inc.
 Niagara Falls is an older industrial city that has experienced economic hard times for a prolonged period, with both population and employment losses being experienced over the last two decades.
 The city has however successfully maintained and improved upon its financial performance, despite the economic difficulties. Fund balances have been maintained at good levels and budgeting has generally been accurate. Debt levels are high on a gross basis, but after deduction for self-supporting water and sewer bonds, is manageable. The credit trend is stable.
 -0- 8/4/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: ST: New York IN: SU: RTG


SH -- NY034 -- 6580 08/04/92 10:46 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
Words:158
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