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TEXAS UTILITIES $297 MILLION SENIOR DEBT RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --

 TEXAS UTILITIES $297 MILLION SENIOR DEBT RATED 'BBB' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 16 /PRNewswire/ -- Texas Utilities Electric Co.'s (TUEC) new $297 million first mortgage and collateral trust bonds are rated 'BBB' by Fitch. The issue includes $150 million in 7.125 percent bonds due June 1, 1997, and $147 million in 8 percent bonds due June 1, 2002. The credit trend is stable.
 The rating reflects Fitch's expectation that key financial indicators will move to much stronger levels once all of the Comanche Peak nuclear plant is reflected in rates. The company expects to file the next rate case in time to bond rates at Comanche Peak 2's 1993 commercial operation date. Internal generation dropped slightly to 17 percent for the twelve months ended March 31, 1992, from 24 percent at year-end. Pre-tax interest coverage for 1991 with allowance for funds used during construction (AFUDC), adjusted to exclude a $1.3 billion writeoff, was 1.91 times (x) versus 1.86x for the twelve months ended March 31.
 -0- 6/16/92
 /CONTACT: Anne F. Faber of Fitch, 212-908-0566/ CO: Texas Utilities Electric Co. ST: Texas IN: UTI SU: RTG


LR -- NY086 -- 0819 06/16/92 16:32 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
Words:204
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