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MOODY'S CONFIRMS 'Aa' RATING FOR STATE OF OREGON GENERAL OBLIGATIONS

 MOODY'S CONFIRMS 'Aa' RATING FOR STATE OF OREGON GENERAL OBLIGATIONS
 NEW YORK, Feb. 10 /PRNewswire/ -- Moody's Investors Service today assigned a rating of "Aa" to combined offering of $32.935 million State of Oregon general obligation bonds to be sold Feb. 11. This is a confirmation of the existing rating on the state's general obligation bonds.
 An increasingly diverse economy, relatively low debt, and sound financial operations contribute to high credit quality. General Fund appropriations made to strengthen the veterans' mortgage loan program and the program's now-positive, audited long-term cash flow forecast are also acknowledged.
 In November 1990 voters approved Ballot Measure 5, a state constitutional amendment which limits local property taxes and obliges the state to replace lost school revenues. The state faces a significant challenge in adjusting to the requirements of Measure 5. Its success in meeting that challenge while maintaining fiscal integrity will be an important factor in judging credit position for several years to come.
 General obligation bonds outstanding (includes self-supporting veterans' welfare, higher education building projects, and housing division revenue bonds): $5,293,235,000.
 -0- 2/10/92
 /CONTACT: George W. Leung, 212-553-0342, or Steven Hochman, 212-553-0338, both of Moody's/ CO: State of Oregon ST: Oregon IN: SU: RTG


SH-KW -- NY060 -- 8331 02/10/92 13:28 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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