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Fitch Rates Montgomery Community College, MD 'AA-'.

Publication: Business Wire
Publication Date: 21-SEP-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings assigns an 'AA-' rating to the approximately $33,000,000 Montgomery County Revenue Authority lease revenue bonds (Montgomery College Arts Center Project) series 2005A. The Rating Outlook is Stable.

A competitive sale is expected Oct. 11. Bond proceeds will be used to construct an Arts Center on the Takoma Park/Silver Springs campus and to fund capitalized interest, a reserve fund, and costs of issuance. The financial advisor is Public Financial Management.

The site on which the Arts Center is to be constructed is owned by the Montgomery Community College (the college) and leased to the Montgomery Community College Foundation (the foundation) pursuant to a...

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