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PRINCE WILLIAM COUNTY (VA.) GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

PRINCE WILLIAM COUNTY (VA.) GENERAL OBLIGATION BONDS RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, April 14 /PRNewswire/ -- Prince William County, Virginia's general obligation bonds are rated 'AA' by Fitch. The county will offer $34.6 million general obligation public improvement and refunding bonds, Series 1992A bonds for bids on April 23.
 Prince William County is well-situated in the Washington metropolitan statistical area (MSA) and has received dramatic growth during the last two decades. The county's population, tax, and employment bases all increased rapidly during this period. Growth and development in the county was primarily residential, but commercial and industrial development were important during the 1980s and the tax base shifted slightly away from the residents.
 The growth enabled the county to generate revenues at levels capable of covering increasing expenditure pressures while maintaining solid, well-balanced performance. However, the county has not been immune from the recession, and both growth and financial performance have come under pressure.
 Management is strong and there is a clear commitment to maintaining historic levels of performance. Operations, although tighter, remain well-balanced with good levels of reserves being maintained. Debt levels are low and additional borrowing needs appear manageable. The credit trend is stable.
 -0- 4/14/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: ST: Virginia IN: SU: RTG


CK -- NY085 -- 8370 04/14/92 17:09 EDT
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Publication:PR Newswire
Date:Apr 14, 1992
Words:225
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