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WESTCHESTER COUNTY (NY) GO BONDS AFFIRMED AT 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 WESTCHESTER COUNTY (NY) GO BONDS AFFIRMED AT 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 16 /PRNewswire/ -- Westchester County (NY)'s general obligation bonds are affirmed at 'AAA' by Fitch. The county will offer $53 million of general obligation serial bonds - 1992B on Oct. 28. The bonds will be sold competitively.
 Westchester County continues to possess highest quality credit. The county has been affected by the recession and difficult expenditure reduction and revenue raising decisions have had to be made. However, county officials have acted quickly and responsibly to maintain balance and position the county for long-term structural budget integrity. Financial performance remains strong, with good balances being achieved to position the county for future needs and unexpected fluctuations in economically sensitive areas. Fund balances were actually increased in 1991, and are expected to remain solid at the end of this year. Debt levels are still easily manageable, as is the capital program. Infrastructure is generally in place; water and sewer needs are the core of the capital improvement plan. Economic growth and development continues, albeit at a slower pace, but both retail and residential growth is being maintained. The credit trend is stable.
 -0- 10/16/92
 /CONTACT: Colleen Woodell, 212-908-0507, or Ruth M. Levine, 212-908-0605, both of Fitch/ CO: Westchester County ST: New York IN: SU: RTG


AH -- NY021 -- 0843 10/16/92 10:13 EDT
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Publication:PR Newswire
Date:Oct 16, 1992
Words:229
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