Printer Friendly

DUQUESNE LIGHT $100 MILLION COLLATERAL TRUST BONDS RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 22 /PRNewswire/ -- Duquesne Light Co.'s new $100 million 7 5/8 percent collateral trust bonds due April 15, 2023 are rated "BBB+" by Fitch. The credit trend is improving. Also rated "BBB+" are $40 million in 6.65 percent medium term notes due April 1, 2003.
 The ratings reflect an aggressively leveraged capital structure, including lease obligations, that is mitigated by Duquesne's relatively strong cash flow and manageable capital requirements. In addition, the company continues to reduce capital costs by refinancing and retiring long-term debt and preferred stock.
 -0- 4/22/93
 /CONTACT: Robert Hornick of Fitch, 212-908-0564/


CO: Duquesne Light Co. ST: Pennsylvania IN: UTI SU: RTG

TS -- NY120 -- 9648 04/22/93 15:42 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 22, 1993
Words:121
Previous Article:KANSAS DEPARTMENT OF TRANSPORTATION BONDS AFFIRMED AT 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:AMR CORPORATION COMMENTS ON TRIBUNAL DECISION INVOLVING CANADIAN AIRLINES AND GEMINI GROUP
Topics:


Related Articles
DUQUESNE LIGHT COMMERCIAL PAPER RATED 'F-2' BY FITCH -- FITCH FINANCIAL WIRE --
DUQUESNE LIGHT $100 MILLION 8.75 PERCENT COLLATERAL TRUST BONDS 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --
DUQUESNE LIGHT $100 MILLION COLLATERAL TRUST BONDS RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --
TEXAS UTILITIES $500 MILLION IN 3 ISSUES RATED 'BBB' BY FITCH --FITCH FINANCIAL WIRE--
DUQUESNE LIGHT COLLEGE TRUST BOND SHELF RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --
DUFF & PHELPS UPGRADES DUQUESNE LIGHT COMPANY SENIOR DEBT TO 'A-'
TEXAS UTILITIES ELECTRIC $500 MILLION SENIOR DEBT RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --
DUQUESNE LIGHT SENIOR DEBT RAISED TO 'A-' BY FITCH, TREND NOW STABLE -- FITCH FINANCIAL WIRE --
DUQUESNE LIGHT 'A-' SENIOR DEBT AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
Fitch Affirms Allegheny Power Units & Duquesne Light Ratings - Fitch Financial Wire -

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters