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U S WEST COMMUNICATIONS $5 BILLION IN DEBENTURES AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, May 20 /PRNewswire/ -- The 'AA-' debenture issues of U S WEST Communications Inc. (USWC) are affirmed by Fitch following the announcement of a strategic partnership between U S WEST, Inc. and Time Warner Entertainment (TWE). The credit trend is stable. Approximately $5 billion in debt is affected.
 The affirmation reflects Fitch's expectation that financing for investment in TWE will not impair the telephone subsidiary's financial strength. Fitch expects the bulk of the U S WEST's financial commitment will be met with additional equity and cash, rather than debt financing. In addition, Fitch believes that USWC's ongoing capital requirements will be met largely with internal funds. Consequently, Fitch expects the telephone subsidiary to sustain credit quality measures near current levels.
 U S WEST, Inc., the parent of USWC, has agreed to invest $2.5 billion in exchange for 25.51 percent of TWE, a limited partnership between Time Warner Inc., Toshiba Corp., and ITOCHU Corp. The investment in TWE is designed to combine U S WEST's network design and operating expertise with TWE's programming and content skills on TWE's existing cable networks. The resultant network will serve as a platform for emerging interactive and multimedia communication applications. The alliance will allow U S WEST to reach an additional 7.1 million households in 32 additional states. U S WEST, Inc. is headquartered in Englewood, CO.
 -0- 5/20/93
 /CONTACT: Timothy Cain of Fitch, 212-908-0587/
 (USW)


CO: U S WEST Communications Inc. ST: Colorado IN: TLS SU: RTG

LD -- NY113 -- 0969 05/20/93 17:13 EDT
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Publication:PR Newswire
Date:May 20, 1993
Words:258
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