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PENNSYLVANIA REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 1 /PRNewswire/ -- Certain maturities of seven Commonwealth of Pennsylvania general obligation bond issues are raised to 'AAA' from 'AA-' by Fitch.
 The 'AAA' rating reflects the fact that the refunded bonds are secured by an irrevocable restricted receipt account held by the state treasurer in trust for bondholders and comprised of direct, noncallable obligations of the U.S. government. KPMG Peat Marwick has verified the mathematical accuracy of the computations showing that the escrowed securities plus an initial cash deposit will be sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates. The details of the issue to be refunded and call provisions are listed below:
 -- First Series S of 1983 dated April 1, 1983; all bonds ($18.9 million) maturing Oct. 1, 1994-2002 will be called Oct. 1, 1993.
 -- Fifteenth Series U dated April 1, 1983; all bonds ($3.8 million) maturing Oct. 1, 1994-2002 will be called Oct. 1, 1993.
 -- Second Series S of 1983 dated June 1, 1983; all bonds ($4.7 million) maturing Dec. 1, 1994 will be called June 1, 1993.
 -- Second Series of 1986 dated May 1, 1986; all bonds ($50.4 million) maturing Nov. 1, 1997-2005 will be called May 1, 1996.
 -- First Series A of 1987 dated April 15, 1987; all bonds ($46.9 million) maturing April 15, 1998-2007 will be called April 15, 1997.
 -- Second Series A of 1987 dated Oct. 1, 1987; all bonds ($46 million) maturing Oct. 1, 1998-2007 will be called Oct. 1, 1997.
 -- First Series A of 1988 dated Feb. 1, 1988; all bonds ($65 million) maturing Feb. 1, 1999-2008 will be called Feb. 1, 1998.
 -0- 7/1/93
 /CONTACT: Stewart Simon of Fitch, 212-908-0508/


CO: ST: Pennsylvania IN: SU: RTG

TM -- NY101 -- 7942 07/01/93 17:03 EDT
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Date:Jul 1, 1993
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