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JACKSONVILLE ELECTRIC AUTHORITY (FLA.) REFUNDED BONDS 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Aug. 26 /PRNewswire/ -- Jacksonville Electric Authority, FL's $106.6 million electric system refunded bonds are raised to 'AAA' from 'AA+' by Fitch. The refunded bonds are secured by an irrevocable escrow comprised of cash and direct, noncallable obligations of the U.S. government. Coopers & Lybrand has verified the mathematical accuracy of the computations showing that the escrowed securities, along with an initial cash deposit, will be sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates.
 Details of the electric system bonds to be refunded and call provisions are listed below:
 Series One 1986A, dated April 1, 1986, $33,660,000 of bonds maturing Oct. 1, 2016 will be called on Oct. 1, 1994 at 101-1/2.
 Series Two 1987A-2, dated Aug. 15, 1987, $29,510,000 of bonds maturing Oct. 1, 2000 through Oct. 1, 2004, inclusive, will be called on Oct. 1, 1997 at 101-1/2.
 Series Three 1988A, dated Nov. 1, 1988, $5,050,000 of bonds maturing Oct. 1, 2005 through Oct. 1, 2010, inclusive, $6,245,000 of bonds maturing Oct. 1, 2015, and $32,100,000 of bonds maturing Oct. 1, 2028 will be called on Oct. 1, 1996 at 101-1/2.
 -0- 8/26/93
 /CONTACT: Susan M. Courtney of Fitch, 212-908-0503/


CO: Jacksonville Electric Authority ST: Florida IN: UTI SU: RTG

SH -- NY041 -- 6110 08/26/93 11:56 EDT
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Publication:PR Newswire
Date:Aug 26, 1993
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