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NEW YORK CITY $650 MILLION TAX ANTICIPATION NOTES RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 12 /PRNewswire/ -- New York City's $650 million general obligation tax anticipation notes fiscal 1994 series A are rated "F-1+" by Fitch. The notes, to be offered for public bids Oct. 14, are due April 1, 1994.
 Strong and long-standing legal protections provide the highest quality security to the TANs. Ample coverage of note principal is provided by property taxes receivable in the month designated for set aside of moneys, assuring the moneys will be available for deposit into the separately held repayment account. Overall, operating borrowing this year remains a modest percentage of cash flow, and despite the recession, property tax collections have maintained good levels.
 -0- 10/12/93
 /CONTACT: Richard J. Raphael of Fitch, 212-908-0506/


CO: ST: New York IN: SU: RTG

TW -- NY096 -- 1276 10/12/93 16:23 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
Words:136
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