Buffalo Agency Prepares Scaled-Down Deal After Review

Cataldo, Adam
September 2004
Bond Buyer;9/7/2004, Vol. 349 Issue 31963, p4
Trade Publication
The article reports that the Buffalo Fiscal Stability Authority plans to sell $84 million in bond anticipation notes later this month in a negotiated sale. The agency had planned to sell about $125 million in notes last month to help with cash flow, but the deal was put oil alter it was determined that the upstate New York city had enough money to meet its financial needs. Jessalynn Morn, an analyst with Fitch Ratings, said that the size of the offering was reduced after officials conducted a more detailed review of the city's finances. The $125 million par amount from last month was based on pretty conservative estimates from the city about what its cash flow needs were going to be and, more specifically, what the maximum position for the year would be.


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