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BANKRUPT EL PASO ELECTRIC BONDS CUT TO 'DDD' BY FITCH -- FITCH FINANCIAL WIRE --

 BANKRUPT EL PASO ELECTRIC BONDS CUT TO 'DDD' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Jan. 8 /PRNewswire/ -- El Paso Electric Co.'s (ELPA) $111 million first mortgage bonds are lowered to 'DDD' from 'B' by Fitch reflecting ELPA's declaration of bankruptcy today. The company's $10.2 million preferred stock is lowered to 'D' from 'CC.' The ratings are removed from FitchAlert negative, where they were placed on Oct. 31.
 -0- 1/8/92
 /CONTACT: Anne Faber of Fitch, 212-908-0566/
 (ELPA) CO: El Paso Electric Company ST: Texas IN: UTI SU: RTG


CK -- NY101 -- 7839 01/08/92 13:32 EST
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Publication:PR Newswire
Date:Jan 8, 1992
Words:101
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