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GEORGIA GENERAL OBLIGATION BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 30 /PRNewswire/ -- Certain maturities of the State of Georgia General Obligation Bonds are rated "AAA" by Fitch. This rating action affects $539.58 million of debt.
 The "AAA" rating reflects the fact that the bonds are secured by an irrevocable trust composed of direct noncallable general obligations of the U.S. Government -- State and Local Government Series. Georgia's nonrefunded bonds are rated "AAA" based on the state's general obligation pledge.
 The accounting firm of Ernst & Young verified the cash flow sufficiency of the escrow, demonstrating that the escrowed securities plus a small initial cash deposit are sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates.
 Details of the issues being refunded and their call provision are listed below:
 General Obligation Bonds Series 1974A dated Sept. 1, 1974; all bonds ($4.33 million) maturing on and between Sept. 1, 1996-1999 will be called on March 1, 1994 at 102%.
 General Obligation Bonds Series 1974B dated Nov. 1, 1974; all bonds($9.465 million) maturing on and between Nov. 1, 1995-1999 will be called on Nov. 1, 1993 at 102%.
 General Obligation Bonds Series 1975A dated Jan. 1, 1975; all bonds ($3.185 million) maturing on and between Jan. 1, 1996-1997 will be called on Jan. 1, 1994 at 102%.
 General Obligation Bonds Series 1975C dated July 1, 1975; all bonds ($10.695 million) maturing on and between July 1, 1996-2000 will be called on Jan. 1, 1994 at 102%.
 General Obligation Bonds Series 1975D dated July 1, 1975; all bonds($7.67 million) maturing on and between Sept. 1, 1996-2000 will be called on March 1, 1994 at 102%.
 General Obligation Bonds Series 1975E dated Nov. 1, 1975; all bonds ($15.2 million) maturing on and between Nov. 1, 1995-2000 will be called on Nov. 1, 1993 at 102%.
 General Obligation Bonds Series 1985A dated Jan. 1, 1985; all bonds ($1.885 million) maturing on Jan. 1, 1997 will be called on Jan. 1, 1995 at 103%.
 General Obligation Bonds Series 1985C dated March 1, 1985; all bonds ($495,000) maturing on March 1, 1997 will be called on March 1, 1995 at 103%.
 General Obligation Bonds Series 1985F dated July 1, 1985; all bonds ($12.46 million) maturing on between July 1, 1996-1997 will be called on July 1, 1995 at 103%.
 General Obligation Bonds Series 1986B dated May 1, 1986; all bonds ($57.675 million) maturing on and between Sept. 1, 1999-2000 will be called on Sept. 1, 1996 at 102%.
 General Obligation Bonds Series 1986D dated May 1, 1986; all bonds ($19.53 million) maturing on Aug. 1, 1999-2004 will be called on Aug. 1, 1996 at 102%.
 General Obligation Bonds Series 1987C dated May 1, 1987; all bonds ($12.29 million) maturing on and between May 1, 2000-2003 will be called on May 1, 1997 at 102%.
 General Obligation Bonds Series 1987E dated July 1, 1987; all bonds ($93.41 million) maturing on and between July 1, 2000-2005 will be called on July 1, 1997 at 102%.
 General Obligation Bonds Series 1988B dated April 1, 1988; all bonds ($78.34 million) maturing on and between April 1, 2001-2008 will be called on April 1, 1998 at 102%.
 General Obligation Bonds Series 1988D dated June 1, 1988; all bonds ($96.615 million) maturing on and between June 1, 2001-2008 will be called on June 1, 1998 at 102%.
 General Obligation Bonds Series 1989A dated April 1, 1989; all bonds ($40.145 million) maturing on April 1, 2002-2009 will be called on April 1, 1999 at 102%.
 General Obligation Bonds Series 1989B dated July 1, 1989; all bonds ($23.795 million) maturing on and between July 1, 2003-2009 will be called on July 1, 1999 at 102%.
 General Obligation Bonds Series 1990B dated Nov. 1, 1990; all bonds ($46.735 million) maturing on and between Nov. 1, 2004-2010 will be called on Nov. 1, 2000 at 102%.
 -0- 12/30/93
 /CONTACT: Gamal Harris of Fitch, 212-908-0541/


CO: ST: Georgia IN: SU: RTG

MP -- NY008 -- 7997 12/30/93 10:08 EST
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Date:Dec 30, 1993
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