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PHILADELPHIA TRANs OF 1993-1994 SERIES A, B, C, D 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 8 /PRNewswire/ -- Fitch assigns an "F-1+" rating to the $350 million City of Philadelphia, Pennsylvania tax and revenue anticipation notes, Series A, B, C, and D of 1993-1994. The rating is based on the 100 percent credit support for each series of notes provided by the irrevocable direct-pay letters of credit issued by Canadian Imperial Bank of Commerce, Corestates Bank, N.A., Morgan Guaranty Trust Co. of New York, and PNC Bank, N.A.
 All notes will mature on June 15, 1994 and will not be redeemable prior to maturity. Principal and accrued interest will be paid on the maturity date with draws on the letters of credit.
 -0- 7/8/93
 /CONTACT: Rita Duggan of Fitch, 212-908-0628/


CO: City of Philadelphia ST: Pennsylvania IN: SU: RTG

SH -- NY083 -- 9598 07/08/93 15:21 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
Words:139
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