Fitch Rates Consolidated Edison Company of New York's $400MM Debs 'A+'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned an 'A+' rating to Consolidated Edison Company of New York's (CECONY) new issue of $400 million 5.85% debentures, series 2006 A due 2036. This issue will rank equally with CECONY's existing senior unsecured obligations. The proceeds of the issuance will be used for general corporate purposes, including repayment of short-term debt bearing interest at variable rates and funding of construction expenditures. The Rating Outlook is Stable. CECONY is a regulated utility subsidiary of Consolidated Edison, Inc. that provides electric service in all of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. (except part of Queens) and most of Westchester County, an approximately 660-square-mile service area, with a population of more than eight million. It also provides gas service in Manhattan, the Bronx, and parts of Queens and Westchester and steam service in parts of Manhattan. CECONY's parent and sole owner is Consolidated Edison, Inc. (senior debt rated 'A' by Fitch). Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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