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DUFF & PHELPS REMOVES ONEOK FROM RATING WATCH

 CHICAGO, July 15 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has removed the debentures of ONEOK Inc. (NYSE: OKE), currently rated `A-' (Single-A-Minus), from Rating Watch -- Unfavorable. Approximately $200 million of securities are affected.
 The securities of ONEOK had been on Rating Watch since June, pending further review of the effects on ONEOK of a proposed acquisition of Western Resources, Inc.'s Kansas City, Kansas and Oklahoma local gas distribution properties. ONEOK announced today that Western Resources has terminated the negotiations for the sale of these properties to ONEOK. No reason was given for the termination. The proposed acquisition would have added 190,000 customers to ONEOK's largely residential and commercial customer base of more than 700,000.
 ONEOK is a diversified energy company organized in three divisions. The utility businesses, Oklahoma Natural Gas Company and ONG Transmission Company, provide natural gas utility services to three- quarters of Oklahoma.
 -0- 7/15/93
 /CONTACT: Lynda A. Housa of Duff & Phelps Credit Rating Co., 312-368-3156/
 (OKE)


CO: ONEOK Inc. ST: Texas IN: OIL SU: RTG

WB-MG -- NY097 -- 2236 07/15/93 17:27 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
Words:182
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