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DUFF & PHELPS RATES DEVELOPMENT AUTHORITY OF BARTOW, BIBB, COWETA AND PUTNAM COUNTIES (GEORGIA POWER COMPANY PROJECTS)

 CHICAGO, March 19 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned ratings of `A-' (Single-A-Minus) to the following First Series 1993 collateralized pollution control revenue bonds issued in conjunction with Georgia Power Company projects: $46.79 million Development Authority of Bartow County (Plant Bowen Project); $4.6 million Development Authority of Bibb County (Plant Arkwright Project); $8.375 million Development Authority of Coweta County (Plant Yates Project); and $13.725 million Development Authority of Putnam County (Plant Branch Project).
 Proceeds will be loaned to Georgia Power under loan agreements and used to redeem outstanding pollution control revenue bonds. The bonds will be secured by like amounts of Georgia Power's first mortgage bonds. The bonds are payable solely from amounts repaid under the loan agreements. As such, the credit rating of the bonds is based on the creditworthiness of Georgia Power.
 Georgia Power's intensified cost control measures and budget refinements have permitted some strengthening in financial protection measures and cash flow. Sales growth is not materializing as fast as originally planned. However, slower growth should allow Georgia Power to scale back construction, reducing new money external financing needs; this should leave Georgia Power in better financial condition when spending needs increase to comply with clean air requirements in the mid-to-late 1990s.
 Georgia Power Company, a subsidiary of Southern Company, provides electric service to most of Georgia.
 -0- 03/19/93
 /CONTACT: John C. Dell of Duff & Phelps Credit Rating Co., 312-368-3161/


CO: ST: Georgia IN: SU: RTG

AH -- NY034 -- 7883 03/19/93 12:01 EST
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Date:Mar 19, 1993
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