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Article: Florida school issue only carries Fitch rating.(Orange County, Florida, School District; Fitch Investors Service)
- Article from:
- The Bond Buyer
- Article date:
- September 28, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In what appears to be a first, Fitch Investors Service was the only agency to rate $35 million of tax anticipation notes to be sold by the Orange County, Fla., School District.
No other school district issue has ever been sold solely with a Fitch rating, according to Fitch senior director John Forde.
Florida-based Government Financial Advisors, the district's financial adviser, said that a Fitch rating alone would be enough to lure market participants, said Fred Winterkamp, the district's senior administrator of budget and treasury.
Orange County schools will save $3,000 by going with the sole Fitch rating, and that amount totals about 10% of issuance ...