Printer Friendly

NEW YORK LGAC REFUNDED BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 12 /PRNewswire/ -- Certain refunded term bonds of New York Local Government Assistance Corp.'s Series 1991B bonds are raised to 'AAA' from 'A+' by Fitch.
 The 'AAA' rating reflects the fact that the refunded bonds are secured by an irrevocable escrow comprised of direct, non-callable obligations of the U.S. Government. Ernst & Young has verified the mathematical accuracy of the computations showing that the escrowed securities will be sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates.
 The Series 1991B bonds are dated June 1, 1991. The refunded term bonds consist of $253.9 million due April 1, 2020 and $43.4 million due April 1, 2021, which will be called for redemption on April 1, 2001 at a price of 102 and April 1, 2001 at par, respectively.
 -0- 04/12/93
 /CONTACT: Stewart Simon of Fitch, 212-908-0508/


CO: New York Local Government Assistance Corp. ST: New York IN: SU: RTG

AH -- NY074 -- 4894 04/12/93 16:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 12, 1993
Words:173
Previous Article:PENNSYLVANIA $420.3 MILLION GO BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:VIRGINIA ELECTRIC $200 MILLION SENIOR DEBT RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --


Related Articles
NEW YORK LOCAL GOVERNMENT ASSISTANCE CORP. BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
VERMONT REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
COOK COUNTY, ILL. $30 MILLION REFUNDED BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
HEMET HOUSING AUTHORITY CALIFORNIA HOUSING 'AAA/F-1+' BONDS AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
HOWARD CO. (MD.) GENERAL OBLIGATION BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
OREGON REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
NEW YORK LOCAL GOVERNMENT ASSISTANCE CORPORATION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
PENNSYLVANIA REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
AUSTIN, TEXAS' REFUNDED BONDS RATED 'AAA' BY FITCH --FITCH FINANCIAL WIRE--
NEW YORK LOCAL GOVERNMENT ASSISTANCE CORP. $329.75 MILLION BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters