DUFF & PHELPS: BALTIMORE GAS AND ELECTRIC COMPANY $125 MILLION FIRST REFUNDING MORTGAGE BONDS RATED 'AA-'
CHICAGO, July 20 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed its "AA-" (Double-A-Minus) rating applicable to Baltimore Gas and Electric Company's issuance of $125 million of first and refunding mortgage bonds from a recently rated shelf registration. Proceeds will be used primarily for refunding. Baltimore Gas and Electric has maintained strong long-term credit fundamentals. Management has demonstrated its commitment to upholding the company's financial integrity, issuing common equity as needed. The company benefits from an economically diversified service territory, reasonable regulation, and a well balanced fuel mix. The Maryland Public Service Commission recently reaffirmed construction of a 140 mw combustion turbine plant at the company's Perryman site, with an in- service date of 1995. However, the company must seek competitive bids to purchase the next 140 mw increment of capacity needed in 1997. Baltimore Gas and Electric provides electric and gas service to the city of Baltimore and the surrounding area in central Maryland. -0- 7/20/93 /CONTACT: John C. Dell of Duff & Phelps Credit Rating Co., 312-368-3161/ (BGE)
CO: Baltimore Gas and Electric Company ST: Maryland IN: UTI SU: RTG
LD-MG -- NY115 -- 3616 07/20/93 17:27 EDT
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|Date:||Jul 20, 1993|
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