NEW YORK (BUSINESS WIRE)– Fitch has assigned its ‘A’ rating to Cranston, RI’s approximately $13,400,000 general obligation refunding bonds (2000).
In addition, the rating on the city’s $63.6 million outstanding general obligation bonds is upgraded to ‘A’ from ‘A-‘. Dated Dec. 1, 2000, the current offering is scheduled for negotiated sale through Fleet Securities Inc. next week. The bonds will pay interest semi-annually on each January 1 and July 1, beginning on July 1, 2001, with principal due serially on each July 1 from 2001 to 2015. Bond proceeds will refund approximately $12.3 million of the city’s outstanding series 1995 bonds.
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