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CHERRY HILL (N.J.) GO BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --

 CHERRY HILL (N.J.) GO BONDS RATED 'AA+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Nov. 12 /PRNewswire/ -- Cherry Hill (N.J.)'s general obligation bonds are rated 'AA+' by Fitch. The township will offer $36.86 million fiscal year adjustment and refunding bonds, series 1992 the week of Nov. 16, 1992. The bonds will be sold through negotiation with Butcher & Singer.
 A diverse, stable and wealthy economic base provide suburban Cherry Hill with a strong capacity to pay its debt. Several corporate headquarters are located there and the economy also includes strong retail and service sectors. Financial operations are sound, reflecting good financial management. The overall debt burden is moderate, and will be further reduced upon completion of the current revaluation, the first since 1975. Future capital needs are modest. While debt service is a high percentage of current operations, this issue restructures debt to achieve future level debt service payments. The credit trend is stable.
 -0- 11/12/92
 /CONTACT: Ruth M. Levine, 212-908-0605, or Colleen Woodell, 212-908-0507, both of Fitch/ CO: ST: New Jersey IN: SU: RTG


AH -- NY096 -- 0422 11/12/92 17:31 EST
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Publication:PR Newswire
Date:Nov 12, 1992
Words:189
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/C O R R E C T I O N -- FITCH/(Correction Notice)

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