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MARYLAND DEPARTMENT OF TRANSPORTATION REFUNDED BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 20 /PRNewswire/ -- Various maturities of certain series of Maryland Department of Transportation's consolidated transportation bonds are raised to "AAA" from "AA" by Fitch.
 The rating change affects $204.0 million from the department's series 1982, 1986, 1988, and 1989 (second issue) debt, and results from the bonds being refunded from proceeds of the consolidated transportation bonds, refunding series 1993. The refunded bonds are now secured by noncallable U.S. government obligations held in an irrevocable escrow. Verification of the sufficiency of the cash flows in the escrow was performed by Deloitte & Touche.
 All refunded maturities of each series will be called at various premiums as detailed below.
 The following series 1982 maturities will be called for redemption at the indicated premium on Nov. 1, 1993:
 Maturity Date Principal Call Premium
 Dec. 15, 1993 $3 million 100-3/4
 Dec. 15, 1994 $3 million 101
 Dec. 15, 1995 $3 million 101-1/4
 Dec. 15, 1996 $3 million 101-1/2
 Dec. 15, 1997 $4 million 101-3/4
 The following series 1986 maturities will be called for redemption at the indicated premium on Aug. 1, 1995:
 Maturity Date Principal Call Premium
 Aug. 1, 1996 $8 million 100-1/2
 Aug. 1, 1997 $8 million 100-3/4
 Aug. 1, 1998 $10 million 101
 Aug. 1, 1999 $11 million 101-1/2
 Aug. 1, 2000 $12 million 101-3/4
 Aug. 1, 2001 $13 million 102
 The following series 1988 maturities will be called for redemption at the indicated premium on July 1, 1997:
 Maturity Date Principal Call Premium
 July 1, 1998 $16 million 100-1/2
 July 1, 1999 $16 million 100-3/4
 July 1, 2000 $16 million 101
 July 1, 2001 $16 million 101-1/2
 The following Series 1989 (second issue) maturities will be called for redemption at the indicated premium on Nov. 15, 1998:
 Maturity Date Principal Call Premium
 Nov. 15, 1999 $8 million 100-1/2
 Nov. 15, 2000 $8 million 100-3/4
 Nov. 15, 2001 $10 million 101
 Nov. 15, 2002 $11 million 101-1/2
 Nov. 15, 2003 $12 million 101-3/4
 Nov. 15, 2004 $13 million 102
 -0- 10/20/93
 /CONTACT: David C. Pink of Fitch, 212-908-0678/


CO: ST: Maryland IN: TRN SU: RTG

TS -- NY050 -- 4523 10/20/93 11:23 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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