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CHELAN COUNTY (WASH.) PUD NO. 1, CONSOLIDATED SYSTEM REVENUES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 4 /PRNewswire/ -- Chelan County Public Utility District (Wash.) No. 1's $25,680,000 Chelan Hydro Consolidated System revenue bonds, Series 1993A and $12 million Series 1993B are rated A+' by Fitch. Fitch affirms the A+' ratings on the district's outstanding bonds for the consolidated, Rocky Reach, Rock Island, and Lake Chelan systems. The credit trend is stable. The bonds are expected to be offered the week of Feb. 8, 1993, through negotiated sale by John Nuveen & Co., Inc. and Prager, McCarthy & Sealy.
 An exceptionally low-cost resource supply positions the district advantageously to market power throughout the Pacific Northwest. Sound financial operations, a manageable capital improvement program, and good liquidity provided by a pool of discretionary funds further enhances the credit. Future operating results are projected to remain generally consistent with historical performance levels.
 Credit concerns focus on the greater-than-usual flexibility provided by the district's bond resolution, including the lack of a debt service reserve fund for this issue. Also, profitable non-firm energy sales could be vulnerable to changes in new fishery regulations.
 -0- 2/4/93
 /CONTACT: Rebecca E. Bachman, 212-908-0516, or Alan Spen, 212-908-0594, both of Fitch/


CO: Chelan County Public Utility District ST: Washington IN: SU: RTG

CK -- NY079 -- 2980 02/04/93 12:26 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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