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ENRON CORP. $200 MIL. 12-YEAR SUB. NOTES RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 18 /PRNewswire/ -- Enron Corp.'s (NYSE: ENE) 6.75 percent senior subordinated notes due 2005 are rated `BBB-' by Fitch. The company's commercial paper is rated `F-2'. Its `BBB' notes and debentures and `BBB-' subordinated debt and preferred stock remain on FitchAlert with positive implications.
 This rating and the FitchAlert positive are based on several current and prospective considerations. Fitch is assessing the full spectrum of credit quality improvement initiatives that ENE management has been implementing and is expecting to put into place over the next 2-3 years. Collectively, they strongly suggest that the foundations are being built for further significant and sustainable improvement in ENE's credit stature by the mid-1990s.
 Consistently high levels of internally generated and retained cash flow and expected proceeds from creatively monetizing selected assets, such as Northern Border Pipeline, via a master limited partnership, will enable management to achieve two important interrelated goals: step up capital spending, and further shrink debt as a portion of total capitalization. Corporate strategy is astutely focused on attaining high and continuous earnings and cash flow growth primarily via unit volume gains, not price inflation. Using physical and financial hedging mechanisms, management curbs ENE's exposure to commodity energy price volatility.
 Enron is innovatively structuring its businesses to compete on a vertically integrated basis around the globe in all segments of the natural gas industry: exploration/production, gas-and-associated- liquids gathering/processing/marketing, pipeline transportation, unregulated gas merchant marketing, and gas-fired electric power plant engineering/construction/operation. Fitch is becoming increasingly comfortable with the credit risk exposures associated with Enron's portfolio of natural-gas-related businesses.
 -0- 6/18/93
 /CONTACT: Bill Stellenwerf, CPA of Fitch, 212-908-0558/
 (ENE)


CO: Enron Corp. ST: Texas IN: OIL SU: RTG

TM -- NY077 -- 3774 06/18/93 18:06 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
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