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DETROIT EDISON $400 MILLION SECURED MEDIUM TERM NOTES RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 26 /PRNewswire/ -- Detroit Edison Co.'s (DTE) $400 million secured medium term notes 1993 Series E are rated 'A-' by Fitch. The notes are a takedown from a previously rated shelf registration. The credit trend is improving.
 DTE's financial protection measures have steadily improved since a December 1988 rate settlement order permitting a seven-year phase-in plan for recovery of approved Fermi 2 nuclear power plant costs. Also, the rate settlement through 1992 suspended the power supply cost recovery (PSCR) clause, established a five-year moratorium on base rate changes, and provided for an expense stabilization procedure allowing adjustments for inflation.
 Factors mitigating growing competitive rate concerns and the company's above average reliance on the automobile and steel industries include the January 1993 rate reduction of $174 million and internal cash generation well in excess of capital requirements over the next several years. Additional factors are the aggressive implementation of ongoing cost reduction programs, an improving economy in the company's service territory, and the continued superior operating performance of the Fermi 2 nuclear power plant.
 -0- 3/26/93
 /CONTACT: Stephen Fedun, 212-908-0568/
 (DTE)


CO: Detroit Edison Co. ST: Michigan IN: UTI SU: RTG

SH1?4:37 -- NY038 -- 9509 03/26/93 14:45 EST
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Publication:PR Newswire
Date:Mar 26, 1993
Words:206
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