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TRINITY RIVER (TEXAS) REFUNDING BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 TRINITY RIVER (TEXAS) REFUNDING BONDS RATED 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 15 /PRNewswire/ -- Trinity River Authority (Texas)'s $203.5 million regional wastewater system revenue refunding bonds, series 1992-A are rated "A+" by Fitch, it was announced today. The bonds are scheduled to be sold by negotiation the week of Sept. 21, through a syndicate led by Dillon Read & Co. The "A+" rating on $279.1 million outstanding parity revenue bonds is affirmed. The credit trend is stable.
 The rating reflects the central regional wastewater system's excellent plant operating performance, sufficient capability to treat projected flows beyond the year 2000, moderate future capital requirements, and rapid debt retirement. Credit quality of contracting participants, located in major portions of the growing Dallas/Fort Worth metroplex, is generally above average. Thorough financial planning and on-budget operating history reflects highly competent senior management.
 Lower capital needs help mitigate current high participant combined water and wastewater rates. While legal covenants are in line with other regional wholesale utilities, the authority's cost of service methodology leaves little margin of safety. Over 70 percent of revenues is attributable to four of the 20 contracting parties.
 -0- 9/15/92
 /CONTACT: Rebecca Bachman, 212-908-0516, or Alan Spen, 212-908-0594, both of Trinity River Authority/ CO: Trinity River Authority ST: Texas IN: SU: RTG


TS -- NY043 -- 9631 09/15/92 12:19 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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