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GEORGIA $566.9 MILLION GO'S RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 GEORGIA $566.9 MILLION GO'S RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, March 3 /PRNewswire/ -- The State of Georgia's $566.9 million general obligation bonds to be offered for bids on March 4 are rated 'AAA' by Fitch. The issue includes $171.0 million refunding bonds 1992 A due March 1, 1995-2007, and $395.9 million 1992 B for new capital projects due March 1, 1993-2012. Both series are non-callable.
 Georgia's superior credit standing results from excellent debt policies, consistent maintenance of conservative and sound financial operations, and its past growth and future potential for further development. The recession in Georgia has been deeper and longer than anticipated, causing revenues to fall short of expectations, but cuts have been taken promptly to retain budget balance.
 Revenue estimates for 1991-92 were revised downward again in connection with the introduction of the budget recommendations for 1992- 93, which are still under consideration. The presented budget retains balance and includes increases in a number of fees and charges. Revenue growth of more than 6 percent relies on recovery beginning this summer.
 The governor has also recommended bonding of $686 million, of which $395.9 million is represented in the current offering. Tax supported debt after the new issue will amount to $3.0 billion, or $470 per capita and 2.8% of personal income, both well within the moderate range. Maximum debt service is also moderate, at 5.8 percent of estimated revenues in 1991-92.
 -0- 3/2/92
 /CONTACT: Claire Cohen of Fitch, 212-908-0552/ CO: ST: Georgia IN: SU: RTG


KD -- NY091 -- 4189 03/02/92 17:12 EST
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Date:Mar 2, 1992
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