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GUILFORD (CT) GENERAL OBLIGATIONS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 21 /PRNewswire/ -- Guilford, CT's $6.07 million general obligation bonds are rated 'AA' by Fitch. The town will offer the bonds competitively on Feb. 3.
 Guilford is a modestly sized, primarily residential community possessing good underlying credit fundamentals. The community is wealthy in terms of both population and tax base with a predominantly professional population. Moderate population growth was experienced during the 1980s, with accompanying assessed valuation gains. The impact of the recession is seen primarily in reduced levels of state aid that have required the town to consolidate and tighten expenditures. These efforts have been successful and, combined with modest tax base increases, the fund balance position has improved and is expected to increase again this year. Debt levels are very low and capital needs are modest, particularly when consideration is given to the rapid retirement of debt. The credit trend is stable.
 -0- 1/21/93
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/


CO: Guilford, Connecticut ST: Connecticut IN: SU: RTG

SH -- NY058 -- 7450 01/21/93 13:08 EST
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Publication:PR Newswire
Date:Jan 21, 1993
Words:174
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