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MASSACHUSETTS REFUNDED GENERAL OBLIGATIONS BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 MASSACHUSETTS REFUNDED GENERAL OBLIGATIONS BONDS RAISED
 TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, July 1 /PRNewswire/ -- Certain maturities of nine Commonwealth of Massachusetts general obligation issues are raised to 'AAA' from 'A' by Fitch. The 'AAA' rating reflects the fact that the refunded bonds are secured by an irrevocable escrow comprised of direct, non-callable obligations of the U.S. government, and Resolution Funding Corporation stripped interest coupons (stripped by the Federal Reserve Bank of New York). Ernst & Young has verified the mathematical accuracy of the computations showing that the escrowed securities will be sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates. The details of the general obligation (Consolidated Loan Series) issues to be partially refunded and call provisions are listed below:
 Series 1980-A dated June 1, 1980; all bonds ($12,560,000) maturing on and after June 1, 1997 will be called on Dec. 1, 1992 at a redemption price of 102.
 Series 1982-A dated May 12, 1982; bonds ($10,555,000) maturing on July 1, 1993 are called on July 1, 1992 at a redemption price of 103.
 Series 1982-C dated Dec. 1, 1982; bonds ($11,130,000) maturing on Dec. 1, 1994 will be called on Dec. 1, 1992 at a redemption price of 103.
 Series 1983-A dated May 12, 1983; bonds ($11,165,000) maturing on May 1, 1997 will be called on May 1, 1993 at a redemption price of 103.
 Series 1984-A dated March 1, 1984; bonds ($6,830,000) maturing on March 1, 1994 will be called on March 1, 1994 at a redemption price of 102.5.
 Series 1985-A dated March 1, 1985; bonds ($7,000,000) maturing on March 1, 1998 will be called on March 1, 1995 at a redemption price of 102.5.
 Series 1985-B dated Oct. 1, 1985; all bonds ($52,500,000) maturing on and after Oct. 1, 1999 will be called on Oct. 1, 1995 at a redemption price of 102.5.
 Series 1987-C dated Nov. 1, 1987; bonds ($24,670,000) maturing on Nov. 1, 2000 to and including Nov. 1, 2002 will be called on Nov. 1, 1997 at a redemption price of 102.
 Series 1991-A dated May 15, 1991; bonds ($56,125,000) maturing on June 1, 2009 will be called on June 1, 1993 at a redemption price of 102.
 -0- 7/1/92
 /CONTACT: Stewart Simon of Fitch, 212-908-0508/ CO: ST: Massachusetts IN: SU: RTG


SM -- NY106 -- 5871 07/01/92 16:16 EDT
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Date:Jul 1, 1992
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