Printer Friendly

LINCOLN (R.I.) $5.2 MILLION GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 25 /PRNewswire/ -- Lincoln (R.I.)'s $5.2 million general obligation bonds, to be sold competitively on March 30, are rated "A+" by Fitch. Outstanding general obligation debt is affirmed at "A+".
 Lincoln's broad and diversified tax base, sound financial operations, and effective planning and management mitigate its high per capita debt. The town's overall taxable wealth has kept debt to a moderate 2.5 percent of market value; a revaluation is expected to be completed in 1993. Financial operations have long been successful. While unreserved surplus was used in fiscal 1990 and 1991 to mitigate external revenue reductions, fiscal 1992 ended with an operating surplus and balances remain sound. An operating surplus is projected for fiscal 1993. No additional capital needs are forecast. The credit trend is stable.
 -0- 3/25/93
 /CONTACT: Ruth M. Levine, 212-908-0605, or Ruth Corson Maynard, 212-908-0596, both of Fitch/


CO: Lincoln, R.I. ST: Rhode Island IN: SU: RTG

TS -- NY034 -- 9504 03/25/93 10:50 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 25, 1993
Words:168
Previous Article:EBASCO/BNFL INC. TEAM SELECTED BY DOE FOR $100 MILLION EFFORT AT HANFORD
Next Article:ISG TECHNOLOGIES AND ELEKTA SIGN DISTRIBUTION AGREEMENT FOR VIEWING WAND


Related Articles
COOK COUNTY, ILL. $30 MILLION REFUNDED BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
DADE COUNTY, FLORIDA GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
VIRGINIA ELECTRIC $680 MILLION SENIOR DEBT RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
OREGON'S $51.4 MILLION G.O. BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
THE HIGHLANDS AT WYOMISSING (PA.) $23.1M BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
WEST VIRGINIA $58.8 MILLION G.O. HIGHWAY BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
OREGON $8.7 MILLION GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
FLORIDA'S $250 MILLION GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
COOK COUNTY ILL., GENERAL OBLIGATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
ARVADA (COLO.) SALES TAX BONDS RATED 'A+', HIGHWAY BONDS 'A' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters