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AUSTIN (TX) REFUNDED BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 19 /PRNewswire/ -- Various maturities of certain series of Austin, Texas' public improvement bonds are upgraded to 'AAA' from 'AA' by Fitch. The rating change affects $63.85 million of bonds from the city's series 1985, 1986, 1988, 1989, 1990B, and 1990-C debt, and results from the bonds being refunded by proceeds of the Public Improvement Refunding Bonds Series 1993. The refunded bonds are now secured by non-callable U.S. government obligations held in an irrevocable escrow. All but the series 1988 refunded bonds will be called at par on specific dates.
 The various maturities that have been refunded and their respective call dates are detailed below.
 Series Amount ($) Maturities Par Call Date
 1985 3,000,000 1995, 1996 July. 1, 1995
 1986 18,175,000 2006, 2007 Sept. 1, 1996
 1988 1,140,000 1998 -----
 1989 15,695,000 2003-2009 Sept. 1, 1999
 1990B 18,340,000 2003, 2004 Sept. 1, 1999
 1990-C 7,500,000 2005-2008 Sept. 1, 2000
 -0- 3/19/93
 /CONTACT: Amy S. Doppelt of Fitch, 212-908-0514/


CO: ST: Texas IN: SU: RTG

PS -- NY024 -- 7853 03/19/93 11:11 EST
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Publication:PR Newswire
Date:Mar 19, 1993
Words:189
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