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NEW HAMPSHIRE $39.6 MILLION GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 21 /PRNewswire/ -- New Hampshire's $39.6 million General Obligation Refunding Bonds, 1993 Series, are rated `AA' by Fitch. The `AA' rating assigned to $594 million outstanding general obligations is affirmed. The credit trend remains stable.
 The new bonds are expected on April 22 through negotiation with a syndicate led by Lehman Brothers. The issue will be due on July 15, will include a mix of serials and terms, and will be callable, but maturity amounts and call features are not yet determined. Proceeds will be used to refund approximately $35.1 million outstanding general obligations.
 While the state's economy remains depressed, employment appears to have stopped falling and the financial position has stabilized. The general fund closed with a balance at June 30, 1992, and operations this year are expected to be in surplus as revenues for the first nine months are exceeding estimates and refund liability from a challenge to the constitutionality of the nuclear property tax is less than the amount which the state had reserved for the purpose.
 The recommended budget for the biennium which begins on July 1, 1993, is in balance and it remains under legislative deliberation. While the final financial plan will reflect changes emanating from the settlement of nuclear property tax litigation and the amount of this year's surplus, it too is expected to be balanced.
 -0- 4/21/93
 /CONTACT: Claire G. Cohen of Fitch, 212-908-0552/


CO: ST: New Hampshire IN: SU: RTG

WB -- NY106 -- 8925 04/21/93 16:08 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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