Printer Friendly

DADE COUNTY, FLORIDA GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

DADE COUNTY, FLORIDA GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, March 19 /PRNewswire/ -- Dade County, Florida's $153.5 million seaport general obligations bonds Series 1992, selling competitively on April 6, are rated 'A+' by Fitch. Outstanding general obligation bonds of the county are also rated 'A+'. This is the first time that Fitch has been requested to rate Dade County debt. The credit trend is stable.
 The new bonds are double barrelled and while the primary source of payment will be revenues of the seaport, which should satisfactorily cover debt service, support for the rating rests with the general obligation of the county.
 Tax-supported debt levels are currently low. The county is in the midst of an economic contraction, particularly affected by the collapse of Eastern and Pan American Airlines last year. While the county is levying property taxes at its operating millage limit, the voters have provided some relief through special taxes, including a 1/2 cent sales tax to assist in the funding of the county hospital. Furthermore, financial operations through fiscal 1991 were sound with an ending 1991 general fund unreserved balance of over 6 percent of expenditures.
 -0- 3/19/92
 /CONTACT: Richard Raphael, 212-908-0506, or Andrea Bozzo, 212-980-0515, both of Fitch/ CO: Dade County ST: Florida IN: SU: RTG


AH -- NY063 -- 9737 03/19/92 13:36 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 19, 1992
Words:228
Previous Article:ALLEGHANY ANNOUNCES EARNINGS
Next Article:PBGC TAKES ACTION TO PROTECT CF&I STEEL PENSIONS


Related Articles
COOK COUNTY, ILL. $30 MILLION REFUNDED BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
GROTON, CONN. $5.0 MILLION GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
NORTH BROWARD HOSPITAL DISTRICT SERIES 1992 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 --
ORANGE COUNTY (FL) $127.8 MIL. WATER UTILITIES REV. BONDS 'A+' BY FITCH --FITCH FINANCIAL WIRE (FFW)--
ORLANDO (FLA.) CONVERTIBLE LIEN REFUNDING SPECIAL REVENUE BONDS 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
COOK COUNTY ILL., GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
St. George, Utah $12 Million General Obligation Bonds Rated 'A+' By Fitch -- Fitch Financial Wire --
Dade County FL. $50M GOs Rated 'A+' by Fitch - Fitch Financial Wire -
Miami-Dade County, Florida Parks Program $26 Million GOs Rated 'A+' by Fitch IBCA - Fitch IBCA -.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters