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MISSOURI $320.1 MILLION GO BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 MISSOURI $320.1 MILLION GO BONDS RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Feb. 6 /PRNewswire/ -- The State of Missouri's $320.1 million general obligation refunding bonds, Series A 1992, originally scheduled for bids on Feb. 11 but temporarily delayed due to market conditions, are rated 'AAA' by Fitch. The 'AAA' rating assigned to $807.2 million outstanding general obligations is affirmed. The credit trend is stable. The new bonds will include $270.2 million Third State Building refunding bonds to refund $251.4 million Series A 1986 building bonds maturing in 1997-2010, and $49.9 water pollution control refunding bonds to refund $46.4 million Series A 1986 water pollution control bonds, for interest rate savings. This offering will mature on March 1, 1993-2011 and become callable on March 1, 2002 at par.
 Superior bondholder security derives from Missouri's very conservative approach to debt as well as from its long record of conservatively managed and balanced operations. The state has a broad-based economy with considerable diversity. Some of its industry remains vulnerable to changes in defense spending.
 Like other states, Missouri is experiencing a slowing of growth. Employment levels are at the 1990 average, with manufacturing and trade being the most negatively impacted. Personal income is showing the same general trend. As a result, state revenues are showing only small gains in this year. Through the first half of the year, aggregate collections were slightly better than projected.
 This refunding does not change the state's excellent debt position. New tax-supported debt of $1.18 billion represents $231 per capita and 1.3 percent of personal income. Pursuant to the constitution, debt service payments are appropriated and transferred to the sinking fund one year in advance.
 -0- 2/6/92
 /CONTACT: Claire G. Cohen, 212-908-0552, or Ruth Corson Maynard, 212-908-0596, both of Fitch/ CO: State of Missouri ST: Missouri IN: SU: RTG


JT -- NY092 -- 7857 02/06/92 15:54 EST
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Publication:PR Newswire
Date:Feb 6, 1992
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