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OCEAN COUNTY (NJ) $7.6 MIL. BANS RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 16 ~PRNewswire~ Ocean County, NJ's $7.6 million Bond Anticipation Notes, Series 1992-A are rated 'F-1+' by Fitch. The notes are selling competitively on November 24. They are dated Dec. 8, 1992 and mature Dec. 8, 1993.
 The 'F-1+' rating indicates the strongest degree of assurance for timely repayment of these one-year notes and reflects the county's very strong credit characteristics. The county's 'AA' long-term general obligation rating is based on sound financial management, strong financial position, and economic transformation to a year-round job tax base.
 The county issued $21.85 million in notes last year to finance, in part, a new office building and pedestrian overpass. The county last sold bonds on August 18 and will use $14.3 million of the $34.6 million in proceeds to pay off last year's notes due December 10. The notes now offered are being issued pursuant to a resolution adopted by the county on August 4, 1992. A decision has not been made as to either renew the notes at maturity with some principal paydown or retire them in total with the proceeds of long-term bonds. There were four bids from major syndicates for the county's August bond sale. Based on this experience and the county's very strong long-term rating, a disruption of market access is a minimal risk.
 -0- 11~16~92
 ~CONTACT: Stewart Simon of Fitch, 212-908-0508~


CO: ST: New Jersey IN: SU: RTG

TM -- NY128 -- 1524 11~16~92 17:37 EST
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Date:Nov 16, 1992
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