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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, Dec. 3 /PRNewswire/  -- Moody's Investors Service today assigned a rating of "Aa" to an offering of $9.55 million State Department of Energy general obligation alternate energy bonds, series 1991, scheduled for sale this week by the state of Oregon.  This is a confirmation of the existing rating on the state's general obligation bonds.  Proceeds of bonds now offered will be used to finance loans for small-scale local energy projects, part of a $70 million authorization for the 1991-93 blennium.
    Underlying strength of 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.
    General obligation bonds outstanding (includes self-supporting veterans' welfare, higher education building projects, and housing division revenue bonds): $5,292,140,000.
    -0-        12/3/91
    /CONTACT:  George W. Leung, 212-553-0342, or Steven Hochman, 212-553-0338, of Moody's Public Finance Department/ CO: ST:  Oregon IN: SU:  RTG SM-KW -- NY090 -- 8910 12/03/91 16:48 EST
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Publication:PR Newswire
Date:Dec 3, 1991
Words:188
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