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ORLANDO UTILITIES COMMISSION (FL) SENIOR BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 1 ~PRNewswire~ -- Orlando Utilities Commission's (OUC) $440.3 million Water and Electric Revenue Refunding Bonds Series 1992 are rated 'AA+' by Fitch. The commission's $639.3 million outstanding Water and Electric Subordinated Revenue Bonds are rated 'AA'. The credit trend is stable. The bonds are scheduled to sell the week of Dec. 14 by a Bear, Stearns & Co. Inc. syndicate.
 OUC benefits from a strong financial position, a diverse mix of generating resources, and utility rates that are among the lowest in the state. Debt service coverage of all bonds has historically been in excess of 1.85 times(x) and is projected to remain above 1.75x in the future. Construction of a second coal-fired unit at the Stanton Energy Center will provide additional low-cost base load capacity at substantial cost savings due to the use of existing site facilities. OUC's solid cash flow will allow it to fund almost 50 percent of its capital improvement program internally. Electric rates have historically been among the lowest in the state and are expected to remain at the lower end with only moderate increases forecast. The water system benefits from a high quality source of supply with very low rates. Additional credit support is provided by OUC's experienced and capable management team.
 While OUC continues to benefit from the rapid development of the Orlando area and the economic diversification that has occurred, the economy remains significantly dependent on tourism and related businesses.
 -0- 12~1~92
 ~CONTACT: Alan Spen, 212-908-0594, or Susan Courtney, 212-908-0503, both of Fitch~


CO: Orlando Utilities Commission ST: Florida IN: UTI SU: RTG

WB -- NY044 -- 2412 12~01~92 12:05 EST
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Publication:PR Newswire
Date:Nov 24, 1992
Words:278
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