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PRINCE GEORGE'S COUNTY (MD) GO NOTES RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 2 /PRNewswire/ -- Prince George's County (MD)'s $40 million General Obligation Notes, Series 1993 are rated 'F-1+ by Fitch. The notes are expected to be offered on or about April 8 through negotiation by Legg Mason Wood Walker, Inc. and The Chapman Co. and are due December 17, 1993. The notes are general obligations of the county backed by its full faith and credit and taxing power subject to charter limits on the property tax.
 The highest short-term rating reflects the exceptionally large cash balances available to pay the notes. The notes are due in the middle of the fiscal year after property taxes are collected and therefore, coverage by excess cash balances is substantial.
 This is expected to be the last of three annual note issues which were originally authorized in 1991 to assist the county's cash flow under a multiyear plan to eliminate a general fund deficit. The two previous issues were retired in December 1991 and 1992 respectively. The county had not previously borrowed for cash flow purposes and does not plan to do so again after this issue. The county is exceeding original deficit reduction targets, despite recurring state aid cuts, and could virtually eliminate the deficit this fiscal year ending June 30. These notes fund low cash flow periods in the general fund which occur until property taxes are collected in September. The county's financial improvement has allowed this issue to be smaller than the previous two years' $57 million and $60 million respectively.
 -0- 4/2/93
 /CONTACT: Richard J. Raphael of Fitch, 212-908-0506/


CO: ST: Maryland IN: SU: RTG

TM -- NY073 -- 2679 04/02/93 17:05 EST
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Date:Apr 2, 1993
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