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ALABAMA POWER COMPANY $455 MILLION (SHELF) FIRST MORTGAGE BONDS RATED 'A'; CLASS A PREFERRED STOCK RATED 'A-' BY DUFF & PHELPS

 CHICAGO, June 16 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned ratings of `A' (Single-A) and `A-' (Single-A-Minus) to Alabama Power Company's shelf registration for $455 million of first mortgage bonds and class A preferred stock.
 Alabama has a balanced capital structure, sustainable interest coverages, and good internal cash flow. Qualitative strengths include a sound service territory, access to wholesale sales opportunities, and a diversified well-operated power supply. Continued aggressive cost control measures and the Rate Stabilization and Equalization mechanism have helped to ensure stability of rates, earnings, and coverages.
 In 1992, the PSC approved plans for the construction of nine combustion turbines in 1995 and 1996 which would provide 715 mw of additional peaking capacity. Plans for four of the turbines may be put on hold if demand does not materialize. Additional spending will be necessary for compliance with acid rain legislation, particularly for Phase II. However, Alabama Power's exposure is somewhat less than that of other Southern System companies.
 Alabama Power, a subsidiary of Southern Company, provides electric service to 1.1 million customers in all but the northern-most part of Alabama.
 -0- 6/16/93
 /CONTACT: William A. Abrams of Duff & Phelps Credit Rating Co., 312-368-3112/
 (SO)


CO: Alabama Power Company ST: Alabama IN: UTI SU: RTG

SM -- NY069 -- 2763 06/16/93 16:42 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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