Printer Friendly

PENNSYLVANIA REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 PENNSYLVANIA REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 6 /PRNewswire/ -- Certain maturities of six Commonwealth of Pennsylvania general obligation bond issues are raised to 'AAA' from 'AA-' by Fitch.
 The 'AAA' rating reflects the fact that the refunded bonds are secured by an irrevocable restricted receipt account held by the State Treasurer in trust for bondholders and comprised of direct, non-callable obligations of the U.S. government.
 KPMG Peat Marwick has verified the mathematical accuracy of the computations showing that the escrowed securities plus an initial cash deposit will be sufficient to pay interest, principal, and the redemption price of the refunded bonds to their respective call dates. The details of the issues to be partially refunded and call provisions are listed below:
 Second Series S of 1983 dated June 1, 1983; all bonds ($29,600,000) maturing on and after Dec. 1, 1995 will be called on June 1, 1993.
 First Series of 1984 dated April 1, 1984; all bonds ($48,980,000) maturing on and after Oct. 1, 1995 will be called on April 1, 1994.
 Third Series of 1984 dated Dec. 15, 1984; all bonds ($31,860,000) maturing on and after June 15, 1996 will be called on Dec. 15, 1994.
 Second series of 1985 dated June 1, 1985; all bonds ($27,125,000) maturing on and after Dec. 1, 1996 will be called on June 1, 1995.
 Third Series of 1985 dated Oct. 15, 1985; all bonds ($42,140,000) maturing on and after April 15, 1998 will be called on Oct. 15, 1995.
 Second Series of 1988 dated May 15, 1988; all bonds ($61,000,000) maturing on and after May 15, 1999 will be called on May 15, 1998.
 -0- 8/6/92
 /CONTACT: Stewart Simon of Fitch, 212-908-0508/ CO: ST: Pennsylvania IN: SU: RTG


LR -- NY089 -- 7708 08/06/92 16:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 6, 1992
Words:318
Previous Article:COASTAL DECLARES QUARTERLY DIVIDENDS ON COMMON, CLASS A COMMON AND PREFERRED STOCK
Next Article:TAPISTRON INTERNATIONAL RECEIVES ORDERS FOR TWO CYP LOOMS


Related Articles
OREGON REFUNDED BONDS RATED 'AAA' -- 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 --
OREGON REFUNDED GO BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
MISSOURI $319 MILLION G.O. REFUNDING BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
AUSTIN (TX) UTILITY SYSTEMS REFUNDED BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
AUSTIN, TEXAS' REFUNDED BONDS RATED 'AAA' BY FITCH --FITCH FINANCIAL WIRE--
RIVERSIDE COUNTY HOUSING AUTHORITY COLLATERALIZED LETTER OF CREDIT BONDS RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
SLFC, INC. NOTES 'AAA', STUDENT LOAN FNDG. BONDS 'A/BBB' BY FITCH -- FITCH FINANCIAL WIRE --

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