DUFF & PHELPS: CENTRAL ILLINOIS PUBLIC SVC. CO. $110 MILLION FIRST MORTGAGE BONDS AND CUMULATIVE PREFERRED STOCK RATED 'AA+' AND 'AA'
CHICAGO, March 29 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned ratings of `AA+' (Double-A-Plus) and `AA' (Double-A) to Central Illinois Public Service Company's shelf registration for $110 million of first mortgage bonds and cumulative preferred stock, respectively. Proceeds will be used to redeem or refund outstanding securities and for other corporate purposes. Central Illinois Public Service Company has a conservative capital structure, solid financial protection measures, and stable service territory. Management has demonstrated a commitment to maintaining credit quality. Central Illinois Public Service has adequate generating capacity. Expenditures to comply with the Clear Air Act should be relatively small. The company plans to use low-sulfur Illinois coal to comply with the act's provisions. Central Illinois Public Service, the primary subsidiary of CIPSCO Incorporated (NYSE: CIP), provides electric and gas service in a 20,000 square mile region of central and southern Illinois. -0- 3/29/93 /CONTACT: William A. Abrams, CFA of Duff & Phelps Credit Rating Co., 312-368-3112/ (CIP)
CO: Central Illinois Public Service Company ST: Illinois IN: UTI SU: RTG
TM -- NY104 -- 0723 03/29/93 17:09 EST
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|Date:||Mar 29, 1993|
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