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

 NEW YORK, Sept. 22 /PRNewswire/ -- Certain maturities of five New York Local Government Assistance Corp. 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 details of the bonds to be refunded and call provisions are listed below:
 Series 1991A term bonds dated Feb. 1, 1991; bonds ($116.8 million) maturing April 1, 2018 will be called April 1, 2001 at a price of 102.
 Series 1991B term bonds dated June 1, 1991; bonds ($43.7 million) maturing April 1, 2012 will be called April 1, 2001 at a price of 102.
 Series 1991C term bonds dated Sept. 1, 1991; bonds ($168.7 million) maturing April 1, 2021 will be called April 1, 2001 at a price of 102.
 Series 1991D term bonds dated Dec. 1, 1991; bonds ($159.2 million) maturing April 1, 2018 will be called April 1, 2002 at a price of 102.
 Series 1992A term bonds dated Feb. 1, 1992; bonds ($48.9 million) maturing April 1, 2021 will be called April 1, 2003 at a price of 102.
 -0- 9/22/93
 /CONTACT: Ruth M. Levine of Fitch, 212-908-0605/


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

PS -- NY041 -- 4661 09/22/93 11:55 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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