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D&P RATES CITY OF BAXTER SPRINGS, KAN. POLLUTION CONTROL REVENUE REFUNDING BONDS; STATE ENVIRONMENTAL IMPROVEMENT AND ENERGY RESOURCES

 CHICAGO, Dec. 7 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned ratings of `AAA' (Triple-A) to the City of Baxter Springs, Kansas' proposed $5.2 million offering of pollution control revenue refunding bonds, 1993 Series (Empire District Electric Company Project) and to the State Environmental Improvement and Energy Resources Authority's (State of Missouri) proposed $8 million offering of pollution control revenue refunding bonds, 1993 Series (The Empire District Electric Company Asbury and Iatan Plants Projects). Both ratings reflect the attachment of AMBAC Indemnity Corporation insurance to the issues.
 Empire District has a conservative capital structure and competitive rates. The company continues to trim expenses, and develop organizational efficiencies. Continued sales growth is expected to be relatively strong. The company is utilizing increasing amounts of purchased power largely as a bridge until construction of its own generating facilities is completed. However, additional costs have been incurred for power purchases to replace out of service generating plants. The company's earnings will be adversely impacted while the plants are out of service as the company does not have a fuel or purchased power adjustment clause in its Missouri or Kansas jurisdictions. The impact of excess replacement power and plant repair costs on Empire District's financial health will depend on the length of the outages and the ability to recover such costs. Empire District is requesting to defer these costs and amortize them over a five-year period.
 Empire District provides electric service to 123,000 customers in a 10,000 square mile territory including southwest Missouri, southeast Kansas, northeast Oklahoma, and northwest Arkansas.
 -0- 12/7/93
 /CONTACT: John C. Dell of Duff & Phelps Credit Rating Co., 312-368-3161/


CO: Empire District Electric Company; State Environmental Improvement
 and Energy Authority ST: Kansas, Missouri IN: ENV UTI SU: RTG


WB -- NY092 -- 1463 12/07/93 17:22 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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