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AUSTIN, TEXAS' REFUNDED BONDS RATED 'AAA' BY FITCH --FITCH FINANCIAL WIRE--

 AUSTIN, TEXAS' REFUNDED BONDS RATED 'AAA' BY FITCH
 --FITCH FINANCIAL WIRE--
 NEW YORK, Aug. 6 /PRNewswire/ -- Various maturities of certain series of Austin, Texas' public improvement bonds are upgraded to 'AAA' from 'AA' by Fitch. The rating change affects $106.29 million of bonds from the city's series 1986, 1986A, 1987, and 1988 debt, and results from the bonds being refunded by proceeds of the Public Improvement Refunding Bonds Series 1992. The refunded bonds are now secured by noncallable U. S. government obligations held in an irrecoverable escrow. The refunded bonds will be called at par on specific dates. The various maturities that have been refunded and their respective call dates are detailed below.
 Series Amount ($) Maturities Par Call Date
 1986 50,175,000 1998-2005 Sept. 1, 1996
 1986A 8,325,000 1998-2004 Sept. 1, 1996
 1987 31,225,000 1999-2007 Sept. 1, 1997
 1988 16,565,000 2000-2008 Sept. 1, 1998
 -0- 8/6/92
 /CONTACT: Amy S. Doppelt of Fitch, 212-908-0514/ CO: ST: Texas IN: SU: RTG


TM -- NY101 -- 7773 08/06/92 17:13 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
Words:178
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