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COOK CO., ILL., TAX ANTICIPATION NOTES RATED 'F-1+,' GO BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 COOK CO., ILL., TAX ANTICIPATION NOTES RATED 'F-1+,'
 GO BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, April 3 /PRNewswire/ -- Cook County, Illinois' $196 million general obligation tax anticipation notes, Series of April 1992 are rated 'F-1+' by Fitch. The notes, due April 1, 1993, are expected by negotiation through a syndicate led by First Chicago Capital Markets, Inc. on or about April 7. Approximately $210 million general obligation bonds, Series 1992A, are rated 'A+.' The bonds are expected through negotiation on or about April 14 by a syndicate led by Donaldson, Lufkin & Jenrette Securities Corp. The credit trend is stable.
 Cook County's broad economic base, which includes the city of Chicago and its surrounding suburbs, provides a strong foundation to meet its obligations. However, rapid growth in hospital and criminal justice requirements, the county's primary functions, is pressuring capital and operating resources. Nevertheless, the county has been able to maintain budgetary balance, and is taking measures and exploring options to maintain future balance. Despite large levels of planned issuance, debt ratios should remain affordable.
 The rating assigned to the tax anticipation notes reflects the county's conservative budgeting and cash flow assumptions, flexibility to utilize available non-property tax resources if needed, and strong credit fundamentals.
 The recession has recently had a moderate impact on the area economy. The new county administration is undertaking changes to improve financial management, including a more timely budget process, its first audit by an independent accounting firm, and multiyear capital and operating planning.
 -0- 4/3/92
 /CONTACT: Richard Raphael, 212-908-0506, or Stewart Simon, 212-908-0508, both of Fitch/ CO: ST: Illinois IN: SU: RTG


CK -- NY074 -- 5039 04/03/92 17:22 EST
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Publication:PR Newswire
Date:Apr 3, 1992
Words:280
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