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UNIV OF MD SYS $19.1 MIL REVS 'AA', OUTSTANDING BONDS RAISED BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 21 /PRNewswire/ -- The University of Maryland System's $19.1 million auxiliary facility and tuition revenue bonds 1993 series B (taxable) are rated `AA'. The system's approximately $433 million outstanding auxiliary facility and tuition revenue bonds and equipment loan program obligations are upgraded to `AA' from `AA-'. The 1993 series B bonds are expected to be sold competitively on June 23, 1993. The credit trend is stable.
 The ratings are supported by the system's ability to weather successfully a significant reduction in state aid over the past few years via a mixture of tuition increases, hiring restrictions, furloughs, some layoffs, and salary freezes. In addition, in an effort to become a more efficient organization, the system recently announced the discontinuance or reconfiguration of 62 academic programs throughout the system.
 As a result of conservative fiscal management policies supported by strong state oversight of the system's budget and capital plan, the system enjoys strong financial operating results, a moderate debt burden, competitive tuition levels, and a stable enrollment trend. Additionally, Fitch believes that the state's financial pressures have now eased, which should provide better stability to the system's operations.
 -0- 6/21/93
 /CONTACT: Jerry Solomon, 212-908-0557,or Fred Martucci, 212-908-0554, both of Fitch/


CO: University of Maryland ST: New York IN: SU: RTG

TM -- NY092 -- 4244 06/21/93 18:16 EDT
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Publication:PR Newswire
Date:Jun 21, 1993
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