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CONSOLIDATED NATURAL GAS CP RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 23 /PRNewswire/ -- Consolidated Natural Gas Co.'s (CNG) commercial paper is rated 'F-1+' by Fitch.
 This exceptionally strong commercial paper credit quality rating assigned to CNG is based on several considerations. Prospective annual forecasts for 1993-1997 indicate that internally generated cash flows should comfortably exceed planned capital spending by more than $100 million each year. Expected cash generation during each annual working capital operating cycle should be more than sufficient to periodically zero out commercial paper balances. Ample unused lines of credit totaling $600 million provide commercial paper backup support.
 CNG's total capital structure remains one of the strongest and most conservative in the interstate natural gas transmission industry. Traditional measures of longer-term credit quality have steadily improved during the last three years; pretax interest coverage currently exceeds 3.4 times(x); cash coverage of interest 6.2x.
 -0- 04/23/93
 /CONTACT: Bill Stellenwerf, CPA of Fitch, 212-908-0558/
 (CNG)


CO: Consolidated Natural Gas Co. ST: Pennsylvania IN: OIL SU: RTG

AH -- NY094 -- 0233 04/23/93 16:17 EDT
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Publication:PR Newswire
Date:Apr 23, 1993
Words:173
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