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DUKE POWER $100 MILLION 7 PERCENT BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 DUKE POWER $100 MILLION 7 PERCENT BONDS RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 16 /PRNewswire/ -- Duke Power Co.'s new issue of $100 million 7 percent first and refunding mortgage bonds due July 1, 2000, is rated 'AA' by Fitch.
 The utility's overall financial condition has been stable. For the 12 months ended March 31, pre-tax interest coverage was 3.89 times. This well managed utility is soundly capitalized with solid generating diversity (64 percent nuclear, 34 percent coal, and 2 percent hydro and other). Over the past three years, internal cash flow provided around 80 percent of capital expenditures. For the three years 1992-1994, construction expenditures including AFUDC but excluding nuclear fuel requirements are estimated at $2.25 billion. Internal cash generation should support about 80 percent of this total.
 Duke Power, headquartered in Charlotte, N.C., provides electric service in North and South Carolina.
 -0- 6/16/92
 /CONTACT: Anne Faber of Duke Power, 212-908-0566/
 (DUK) CO: Duke Power Co. ST: North Carolina IN: UTI SU: RTG


SH -- NY068 -- 0745 06/16/92 14:30 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
Words:182
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