OCEAN COUNTY, N.J., BANS RATED
OCEAN COUNTY, N.J., BANS RATED F-1+' BY FITCH
-- FITCH FINANCIAL WIRE --
NEW YORK, Nov. 21 /PRNewswire/ -- Ocean County, N.J.'s $21.8 million bond anticipation notes are rated F-1+' by Fitch. The notes selling competitively on Nov. 26 are dated Dec. 10 and mature Dec. 10, 1992. The strongest degree of assurance of timely repayment of these notes rests with the county's very strong credit fundamentals and proven market access.
The county's long-term general obligation debt is rated AA' by Fitch based on the year-round economic base, sound financial management, and strong financial position. The notes are being issued pursuant to a resolution adopted by the county on Sept. 3, 1991. The notes will likely be renewed at maturity with some principal pay down. The county last sold bonds on Sept. 17, with four major syndicates bidding. Based on this experience and the county's very strong long-term rating, market access is a minimal risk limited to severe market disruption.
/CONTACT: Stewart Simon of Fitch, 212-908-0508/ CO: Ocean County ST: New Jersey IN: SU: RTG SM -- NY085 -- 5990 11/21/91 14:46 EST