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

 AUSTIN (TX) UTILITY SYSTEMS REFUNDED BONDS RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 3 /PRNewswire/ -- Austin, Texas, Combined Utility Systems $332.7 million refunded series 1985 and 1986 bonds are revised to 'AAA' from 'A+' by Fitch.
 The refunded bonds are secured by an irrevocable escrow comprised of cash, and direct, non-callable obligations of the U.S. Government. KPMG Peat Marwick has verified the mathematical accuracy of the computations showing that the escrowed securities will be sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates.
 Details of the combined utility systems revenue bonds to be refunded and call provisions are listed below:
 Series 1985, dated Oct. 1, 1985, contains $32.3 million of bonds maturing on Nov. 15, 2013 and Nov. 15, 2014 and will be called on Nov. 15, 1995 at par.
 Series 1986, dated March 1, 1986, contains $300.4 million of bonds maturing on May 15, 2002 through Nov. 15, 2012 and will be called on May 15, 1996 at a price of 102.
 -0- 8/3/92
 /CONTACT: Susan M. Courtney, 212-908-0503, or Alan Spen, 212-908-0594, both of Fitch/ CO: City of Austin ST: Texas IN: UTI SU: RTG


KD -- NY069 -- 6269 08/03/92 15:44 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
Words:214
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