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MOODY'S CONFIRMS MARYLAND'S 'Aaa' BOND RATING

 MOODY'S CONFIRMS MARYLAND'S 'Aaa' BOND RATING
 NEW YORK, May 6 /PRNewswire/ -- Effective today, Moody's Investors


Service confirmed the State of Maryland's "Aaa" general obligation bond rating. The rating is issued in conjunction with the May 13 sale of $120 million general obligation bonds, state and local facilities loan of 1992, First Series.
 Superior state credit quality is derived from a broad and diverse economy, high wealth levels and a long record of sound financial operations. In line with the prime grade rating, the state has made responsible adjustments to sizable mid-year imbalances in fiscal years 1991 and 1992 and crafted a 1993 budget that promotes recurring balance through a mix of spending restraint and expanded resources while minimizing non-recurring actions.
 Net tax-supported debt outstanding: $3,455,653,000
 -0- 5/6/92
 /CONTACT: George W. Leung, 212-553-0342, or James Dearborn, 212-553-1910, both of Moody's/ CO: State of Maryland ST: Maryland IN: SU: RTG


GK-CK -- NY038 -- 7025 05/06/92 11:08 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:162
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