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ORANGE COUNTY (FL) $127.8 MIL. WATER UTILITIES REV. BONDS 'A+' BY FITCH --FITCH FINANCIAL WIRE (FFW)--

ORANGE COUNTY (FL) $127.8 MIL. WATER UTILITIES REV. BONDS 'A+' BY FITCH
 --FITCH FINANCIAL WIRE (FFW)--
 NEW YORK, June 3 /PRNewswire/ -- Orange County, Florida's $127.8 million Water Utilities System Revenue Bonds, Series 1992 are rated 'A+' by Fitch. The credit trend is stable. The bonds are expected to be offered through negotiated sale the week of June 8.
 The water and wastewater system has a historically strong financial record with debt service coverage well in excess of 2.0 times. Conservative financial projections provide for continued good debt service protection. The system serves the unincorporated areas of the county, which have demonstrated strong growth in recent years as evidenced by average increases of 7.3 percent and 6.1 percent per annum in water and wastewater customers, respectively.
 While much has been done to consolidate and upgrade the system, the current capital program is needed to provide for growth and facilitate compliance with future environmental mandates in a cost effective manner. Rates, though competitive with those in other unincorporated areas, are somewhat higher than nearby city systems.
 -0- 6/3/92
 /CONTACT: Rebecca Bachman of Fitch, 212-908-0516/ CO: Orange County, Fla. ST: Florida IN: SU: RTG


TQ -- NY016 -- 6533 06/03/92 09:50 EDT
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Publication:PR Newswire
Date:Jun 3, 1992
Words:207
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