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CAROLINA POWER & LIGHT COMPANY $150 MILLION FIRST MORTGAGE BONDS RATED 'A+' BY DUFF & PHELPS

 CHICAGO, Feb. 8 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of A+' (Single-A-Plus) to Carolina Power & Light Company's proposed offering of $150 million of first mortgage bonds. The bonds will be sold from an outstanding shelf registration, leaving a balance of $250 on the shelf. Proceeds will be used for construction and maintenance, or other corporate purposes.
 Carolina Power & Light has a stable service territory and reasonable regulation. Strong internal cash generation, debt reduction, and modest sales growth should add stability to credit protection measures. The company has substantial interest in the Harris, Brunswick, and Robinson nuclear facilities. The Harris plant received favorable reports from the Nuclear Regulatory Commission (NRC) for the latest review period ended September 1992. Carolina Power & Light removed both Brunswick units from service in April 1992. The Brunswick plant was placed on the NRC's Watch list in July.
 Issues at the plant are being addressed; however, it is uncertain when the units will be returned to service.
 Carolina Power & Light Company serves approximately 950,000 electric customers in an area encompassing nearly one-half on North Carolina and one-fourth of South Carolina.
 -0- 2/8/93
 /CONTACT: William A. Abrams of Duff & Phelps, 312-368-3112/
 (CPL)


CO: Carolina Power & Light Company ST: North Carolina IN: UTI SU: RTG

SM -- NY059 -- 4045 02/08/93 11:11 EST
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Publication:PR Newswire
Date:Feb 8, 1993
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