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DUFF & PHELPS ISSUES RATINGS ON THERMO ELECTRON CORPORATION

 WALTHAM, Mass., Jan. 12 /PRNewswire/ -- Thermo Electron Corporation (NYSE: TMO) announced today that Duff & Phelps Credit Rating Company has issued initial ratings on the company's debt. A rating of BBB+ (Triple-B-Plus) has been assigned to Thermo Electron's senior convertible debentures, and the company's subordinated convertible debentures have been assigned a rating of BBB (Triple-B).
 The rating is based on a liquid balance sheet and pretax interest coverages, excluding significant non-cash gains, that currently approach 4.0 times. According to Duff & Phelps, Thermo Electron typically maintains high cash balances and is estimated to have year-end cash, short-term investments, and project-restricted funds of about $450 million, which roughly equalled two thirds of the company's outstanding debt. The rating agency also stated that Thermo Electron has demonstrated an ability to access both debt and equity capital at parent and subsidiary levels.
 Thermo Electron develops, manufactures, and markets environmental and analytical instruments, custom-engineered and pre-packaged cogeneration systems, industrial process equipment, biomedical materials and products, and fabricated biomedical and aerospace components. The company also provides metallurgical heat treating, water quality engineering, and analytical laboratory services.
 -0- 1/12/93
 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO)


CO: Thermo Electron Corporation ST: Massachusetts IN: SU: RTG

DD -- NE009 -- 3876 01/12/93 09:30 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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