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DUFF & PHELPS VIEWS REYNOLDS METALS' 4Q CHARGE AS NEUTRAL

 CHICAGO, Jan. 3 /PRNewswire/ -- Reynolds Metals announced today that it would take a fourth quarter 1993, charge of $200-225 million for restructuring. This charge is higher than the former estimate of $150-225 million; however, it was expected by Duff & Phelps.
 The increased charge is due to Reynolds Metals plan to discontinue a portion of its aluminum sheet production at its McCook, Ill. plant. This plan and the charge were already accounted for in the ratings. The company said last December that it was studying the restructuring of some of its operations, including those at McCook.
 The current ratings for Reynolds Metals are 'BBB+' (Triple B Plus) for senior debt and 'BBB' (Triple B) for preferred stock, including last week's proposed issue of 9 million shares of convertible preferred stock. The company's commercial paper is rated D-2.
 -0- 1/3/94
 /CONTACT: Jeffrey F. Miller, CFA of Duff & Phelps, 312-630-4592/


CO: Reynolds Metals ST: IN: MTG SU: RTG

WB -- NY066 -- 8655 01/03/94 17:30 EST
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Publication:PR Newswire
Date:Jan 3, 1994
Words:166
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