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SAN ANTONIO, TEXAS' REFUNDED BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 SAN ANTONIO, TEXAS' REFUNDED BONDS RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 22 /PRNewswire/ -- Various maturities of certain series of San Antonio, Texas' general improvement bonds and certificates of obligation are upgraded to 'AAA' from 'AA' by Fitch.
 The upgraded debt has been refunded with proceeds of the city's general improvement refunding bonds series 1992, and the refunded bonds and certificates are now secured by U.S. government obligations held in an irrevocable escrow.
 The rating change affects $360.4 million of bonds and certificates from the city's general improvement bonds series 1985, 1985-A, 1986, 1987, 1988, 1988-A, 1989, and 1991, general improvement refunding bonds series 1988, and certificates of obligation series 1988, 1988-A, 1988-B, and 1989. All refunded debt except for the general improvement refunding bonds series 1988 capital appreciation bonds will be redeemed at par. The capital appreciation bonds are noncallable.
 The various maturities that have been refunded and their respective call dates are detailed below.
 General Improvement Bonds
 Series Amount ($ mil.) Maturities Call Date
 1985 18.9 1997-2005 7/1/95
 1985-A 78.0 1996-2000, 8/1/95
 and 2011
 1986 51.1 1996-2011 8/1/96
 1987 40.2 1996 and 8/1/97
 1998-2012
 1988 41.1 1999-2013 8/1/98
 1988 Rfg. 22.9 current interest 2000-2008 8/1/98
 1.2 CABs 2005, 2006 noncallable
 1988-A 18.2 1999-2013 8/1/98
 1989 15.4 2000-2011 8/1/99
 1991 30.6 2002-2010 8/1/01
 Certificates of Obligation
 Series Amount ($ mil.) Maturities Call Date
 1986 13.0 1997-2011 8/1/96
 1988 1.8 2003-2007 8/1/02
 1988-A 13.5 1999-2013 8/1/98
 1988-B 9.3 1999-2013 8/1/98
 1989 5.3 2000-2013 8/1/99
 -0- 9/22/92
 /CONTACT: Amy S. Doppelt of Fitch, 212-908-0514/ CO: ST: Texas IN: SU: RTG


PS -- NY097 -- 2407 09/22/92 17:53 EDT
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Publication:PR Newswire
Date:Sep 22, 1992
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