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MILFORD (CONN.) $9 MILLION GENERAL OBLIGATIONS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 MILFORD (CONN.) $9 MILLION GENERAL OBLIGATIONS RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 17 /PRNewswire/ -- Milford (Conn.)'s general obligation bonds are rated "AA" by Fitch. The city will offer $9 million General Obligation Bonds for bids on July 1. The city will simultaneously sell $10.1 million General Obligation Bond Anticipation Notes.
 Milford has an established record of good management of both debt and financial performance that supports its high quality credit. Debt levels are low and additional needs are easily manageable, particularly given the rapid payout of outstanding bonds. Financial performance has been consistent over several years and enhanced monitoring and controls have helped maintain and improve upon this trend during recent tighter budget periods. Modest tax rate increases and expenditure freezes have been utilized to maintain balance. The city has experienced moderate growth over the last decade; with the phasing in of the recent revaluation, values are expected to continue to grow and increase by at least 25 percent over the next five years. Unemployment has increased, but levels remain below the levels of both the state and metropolitan statistical area. The credit trend is stable.
 -0- 6/17/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: ST: Connecticut IN: SU: RTG


SH -- NY066 -- 1191 06/17/92 15:48 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:217
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