Fitch Rates Monongahela Power's $120MM FMB Issuance 'BBB'.Business Editors NEW YORK--(BUSINESS WIRE)--June 3, 2004 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 as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. a 'BBB' rating to the issuance of 6.70% first mortgage bonds (FMBs) of Monongahela Monongahela (mənŏn'gəhē`lə, –hā`lə), river, 128 mi (206 km) long, formed at Fairmont, N W.Va., by the junction of the West Fork and Tygart rivers. Power Company due June June: see month. 15, 2014. The proceeds of the FMBs will be used to repay all outstanding amounts under the 364-day bridge loan facility entered into during September 2003 and for other general corporate purposes. The FMBs rank equally with existing and future FMBs. The Rating Outlook is Negative. Fitch's May 25, 2004 press release provides further information on the rating and Outlook. |
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