Printer Friendly

ONONDAGA COUNTY (N.Y.) $11.8 MILLION GOs RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 4 /PRNewswire/ -- Onondaga County, N.Y.'s, $11.8 million Improvement District Refunding (Serial) Bonds, 1993 are rated `AA' by Fitch. The bonds will be offered through negotiation on or about June 8 by First Albany Corp. The $278.6 million outstanding `AA' GO bonds are affirmed.
 Onondaga County has a well established record of solid financial performance due to strong budget and management checks that enabled it to react quickly and appropriately to avoid the imbalances experienced by many New York counties during the recession. Modest tax rate increases and strict expenditure controls have been utilized to preserve appropriate fund balance levels. The county has actively pursued means to reduce overall debt levels, including implementing a more aggressive pay-as-you-go capital program. Debt levels are moderate and manageable. Borrowing needs, as outlined in the five-year capital improvement plan, are modest, as the infrastructure is generally in place, even in the areas of increased development. However, while not quantifiable at this time, the county potentially could have additional capital requirements for the cleanup of Onondaga Lake. Despite the recession, construction of both retail and residential development projects have continued. The credit trend is stable.
 -0- 6/4/93
 /CONTACT: Ruth M. Levine of Fitch, 212-908-0605/


CO: Onondaga County ST: New York IN: SU: RTG

WB -- NY063 -- 5631 06/04/93 17:14 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:Jun 4, 1993
Words:225
Previous Article:TEXAS UTILITIES $100 MILLION 6.98 PERCENT PREFERRED DUE 2008 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:UNITED AIRLINES RESPONDS TO DOT ANNOUNCEMENT
Topics:


Related Articles
ONONDAGA CO. (N.Y.) GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
ONONDAGA COUNTY (N.Y.) RESOURCE RECOVERY AGENCY BONDS RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
NORTH TONAWANDA HOUSING DEVELOPMENT CORP. (NY) REFUNDING RATING WITHDRAWN BY FITCH -- FITCH FINANCIAL WIRE --
ONONDAGA COUNTY, NEW YORK GO'S AFFIRMED AT 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
HOUSTON (TEXAS) REFUNDING BONDS 'AA', MUNICIPAL UTILITY DISTRICT REFUNDING BONDS 'AA (CONDITIONAL)' BY FITCH -- FITCH FINANCIAL WIRE --
ONONDAGA COUNTY (N.Y.) GENERAL OBLIGATION BONDS 'AA', BANS 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
ONONDAGA COUNTY (NY) $24.7 MILLION GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
TRUMBULL (CT) $8 MILLION GO BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
American Southwest $77 Million Pass-Thrus Affirmed 'AAA' By Fitch -- Fitch Financial Wire --
LTC $100.8M Commercial Mtge Certs 1996-1 Affirmed by Fitch

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters