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WESTINGHOUSE FINALIZES $6 BILLION REVOLVING CREDIT LINE

 WESTINGHOUSE FINALIZES $6 BILLION REVOLVING CREDIT LINE
 PITTSBURGH, Dec. 23 /PRNewswire/ -- Westinghouse Electric


Corporation (NYSE: WX) has closed a $6 billion revolving credit facility with a syndication of about 50 global banks led by Chemical Bank of New York and also has executed two previously announced agreements in support of its credit subsidiary, Chairman Paul E. Lego announced today.
 Simultaneously, Westinghouse made initial borrowings under the new credit facility to repay existing bank loans and to fund its obligations under its support agreement with Westinghouse Credit Corporation.
 Under one of the agreements, Westinghouse will maintain Westinghouse Credit's debt-to-equity ratio at 6.5 to 1 and a minimum net worth of $1 billion, subject to termination with three years' advance notice. The other agreement provides for the guarantee of Westinghouse Credit's commercial paper.
 "The completion of this bank revolving credit facility provides solid backup to our ongoing commercial paper programs and is an important step in achieving our previously announced financing objectives," Lego said.
 -0- 12/23/91
 /CONTACT: Ronald E. Hart of Westinghouse Electric Corporation, 412-642-3373, or home at 412-833-9352/
 (WX) CO: Westinghouse Electric Corporation; Westinghouse Credit
 Corporation; Chemical Bank of New York ST: Pennsylvania IN: FIN SU:


CD -- PG004 -- 4886 12/23/91 14:08 EST
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Publication:PR Newswire
Date:Dec 23, 1991
Words:207
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