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Fitch Rates Durham, North Carolina's $22.9MM GO Rfdg Bonds 'AAA'; Outlook Stable.

Publication: Business Wire
Publication Date: 22-SEP-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings assigns an 'AAA' rating to the city of Durham, North Carolina's approximately $22,935,000 general obligation (GO) refunding bonds, series 2009. The bonds are scheduled for negotiated sale on Sept. 30. In addition, Fitch affirms the outstanding GO bonds and certificates of participation (COPs) for the city as follows:

--$228 million outstanding GO bonds 'AAA';

--Series 2001 COPs ($10 million outstanding) 'AA+';

--Series 2003 COPs ($10 million outstanding) 'AA'.

The Rating Outlook is Stable.

The 'AAA' rating is based on the city's strong economic fundamentals and...

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