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Article: Fitch Rates Texas Pub Fin Auth $881MM Commercial Paper Program 'F1+'.
- Article from:
- Business Wire
- Article date:
- April 29, 2002
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Business Editors
NEW YORK--(BUSINESS WIRE)--April 29, 2002
Fitch Ratings assigns 'F1+' to the Texas Public Finance Authority's $881 million commercial paper program. The commercial paper notes are general obligations of the State of Texas, issued in anticipation of permanent funding through general obligation bonds. The notes are expected to be offered May 6, in the initial amount of $50 million. J. P. Morgan Securities, Inc. and Lehman Brothers will be the dealers and Deutsche Bank Trust Company Americas is the issuing and paying agent. Liquidity will be furnished by the state of Texas's treasury and conditions precedent to advances are not onerous.
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