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DUFF & PHELPS ADDS SOUTHERN UNION COMPANY TO RATING WATCH

 CHICAGO, June 23 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has placed the notes and debentures of Southern Union Company, currently rated `BBB-' (Triple-B-Minus), on Rating Watch -- Unfavorable.
 The action follows Southern Union's announcement that it is negotiating with Western Resources, Inc. on the acquisition of its Missouri local gas distribution properties. A definitive agreement has not yet been reached.
 The proposed acquisition would be sizable relative to Southern Union's capitalization and existing assets. The transaction would more than double Southern Union's current customer base of primarily residential and commercial customers, most of which are located in Texas. Duff & Phelps' review will focus on Southern Union's financing plans for the acquisition and its impact on the balance sheet and capital structure. Duff & Phelps also will assess regulatory support for recovery of any acquisition premium and integration of the properties with the company's current operations.
 Southern Union is a diversified energy company primarily engaged in natural gas operations in Texas and Oklahoma. Approximately 428,000 customers are currently served by its utility division, Southern Union Gas Company.
 -0- 6/23/93
 /CONTACT: John C. Dell of Duff & Phelps Credit Rating Co., 312-368-3161/
 (SUG)


CO: Southern Union Company ST: Texas IN: OIL SU: RTG

WB-MG -- NY078 -- 5227 06/23/93 18:10 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
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