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EUNICE (LA.) $2.2 MILLION REFUNDING BONDS RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 EUNICE (LA.) $2.2 MILLION REFUNDING BONDS RATED 'BBB-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 29 /PRNewswire/ -- Eunice, La.'s $2,160,000 Public Improvement Refunding Bonds, Series ST-1992 are rated 'BBB-' by Fitch. The bonds are to be offered through negotiation by J.C. Bradford & Co. on or about Aug. 11. The bonds are payable solely from the pledge and dedication of the net proceeds of a special one percent sales and use tax. The rating also applies to parity bonds: $2.0 million Public Improvement Bonds, Series ST-1978 and the $380,000 unrefunded portion of Public Improvement Bonds, Series ST-1985. Adequate projected coverage levels and rapid bond maturity provide investment grade credit quality.
 Once dependent on the oil and agriculture industries for its economic base, the city has been using tourism successfully as a development tool. While sales tax collections are vulnerable to economic fluctuations and income measures are weak, debt and overall financial credit characteristics are sound. The credit trend is improving.
 -0- 7/29/92
 /CONTACT: Stewart Simon of Fitch, 212-908-0508/ CO: ST: Louisiana IN: SU: RTG


SM -- NY080 -- 4640 07/29/92 13:06 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
Words:192
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