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MOODY'S INVESTORS SERVICE ASSIGNS 'Aa' RATING TO EDGEWOOD KENTUCKY PUBLIC PROPERTIES FIRST MORTGAGE REVENUE BONDS

 MOODY'S INVESTORS SERVICE ASSIGNS 'Aa' RATING TO
 EDGEWOOD KENTUCKY PUBLIC PROPERTIES FIRST MORTGAGE REVENUE BONDS
 NEW YORK, Nov. 27 /PRNewswire/ -- Effective yesterday, Moody's assigned an initial rating of 'Aa' to Edgewood Kentucky Public Properties Corporation first mortgage revenue bonds. This is the highest rated lease rental obligation in the Commonwealth of Kentucky. The high quality rating is based on the city's financial and economic strengths, as well as its easily managed debt burden. Edgewood is a small, wealthy residential suburb of Cincinnati. The city's finances are extremely well managed with large operating, capital, and debt service reserves and a trend of ample operating surpluses. Steadily growing property taxes and employer payroll taxes support the city's strong financial position. Delta's dominant presence at nearby Greater Cincinnati International Airport, and a large, expanding hospital located within the city, contribute greatly to the city's growth. Debt burden is moderate, legal provisions are sound, and no future borrowing plans are anticipated.
 -0- 11/27/91
 /CONTACT: Marcy Edwards, vice president/manager-Southeast Region, 212-553-0322; or Amy Hamburg, senior analyst-Southeast Region, 212-553-7782, both of Moody's/ CO: Edgewood Kentucky Public Properties Corporation ST: Kentucky IN: SU: RTG


SH-JT -- NY030 -- 7754 11/27/91 13:10 EST
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Publication:PR Newswire
Date:Nov 27, 1991
Words:199
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