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SPARTANBURG COUNTY (S.C.) GENERAL OBLIGATION BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --

SPARTANBURG COUNTY (S.C.) GENERAL OBLIGATION BONDS RATED 'AA-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 1 /PRNewswire/ -- Spartanburg County, South Carolina's general obligation bonds are rated 'AA-' by Fitch. The county will offer $13.25 million General Obligation Bonds, Series 1992 for bids on July 8.
 Spartanburg County possesses high quality credit characteristics, as evidenced by its low debt levels, strong financial performance, and growing and diversifying economic base. The county's economy is dominated by the manufacturing sector, but employment has expanded into areas other than the historic textile presence. This trend will continue with the recent announcement of the location of BMW's first U.S. assembly plant in the county. Additional employment and tax benefits will accrue from both the plant and its suppliers. Spartanburg's financial position is strong. Although the recession has pressured operations, good levels of fund balance continue to be maintained. Debt levels are low, although the county is at its borrowing capacity. The credit trend is stable.
 -0- 7/1/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: ST: South Carolina IN: SU: RTG


SH -- NY092 -- 5807 07/01/92 14:33 EDT
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Publication:PR Newswire
Date:Jul 1, 1992
Words:190
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