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PUGET SOUND P&L $75 MIL. 7-7/8 PERCENT PREFERRED RATED 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --

PUGET SOUND P&L $75 MIL. 7-7/8 PERCENT PREFERRED RATED 'BBB+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 15 /PRNewswire/ -- Puget Sound Power & Light Co.'s (NYSE: PSD) new issue of $75 million 7-7/8 percent preferred stock is rated 'BBB+' by Fitch. The credit trend is stable.
 The rating reflects Puget's healthy service territory, above average sales and customer growth, and a newly implemented rate plan that should enhance earnings stability. The rate plan is compatible with Puget's resource strategy, which relies heavily on third party power purchases and conservation. Prospectively, Fitch expects credit quality to be stable. However, expanding the transmission network will increase expenditures and will require regulatory support, probably in the 1992- 1993 time-frame.
 -0- 7/15/92
 /CONTACT: Robert Hornick of Fitch, 212-908-0564/
 (PSD) CO: Puget Sound Power & Light Co. ST: Washington IN: UTI SU: RTG


LD -- NY080 -- 9294 07/14/92 17:16 EDT
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Publication:PR Newswire
Date:Jul 14, 1992
Words:152
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