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MIDDLESEX COUNTY (N.J.) 'AAA' GENERAL OBLIGATION'S AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

 MIDDLESEX COUNTY (N.J.) 'AAA' GENERAL OBLIGATION'S AFFIRMED BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 9 /PRNewswire/ -- Middlesex County, (N.J.)'s 'AAA' general obligation bonds are affirmed by Fitch. The county will offer approximately $45 million bonds for competitive sale on Sept. 22.
 Middlesex County possesses a strong, diverse economic base that enables it to be one of the most creditworthy counties in the state. Its employment base is a function of both its location midway between New York City and Philadelphia and its excellent transportation network; the county has evolved into one of the state's major employment centers and headquarters locations.
 The recession has slowed development within the county, but it has not stopped, with residential construction progressing at a somewhat better pace than commercial/industrial development. The county's infrastructure is generally in place and the capital program reflects only upgrading of facilities; no large projects are outstanding.
 Debt levels are low. Debt as a percentage of the budget is above average, but this figure is mitigated by the very rapid payout and the generally narrow responsibilities of New Jersey counties. The county's financial performance is strong, with good fund balances accrued annually. The credit trends is stable.
 -0- 9/9/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: ST: New Jersey IN: SU: RTG


PS -- NY019 -- 7404 09/09/92 10:09 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
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