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DUKE POWER $150 MILLION 7 PERCENT FIRST AND REFUNDING MORTGAGE BONDS DUE 2033 RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 20 /PRNewswire/ -- Duke Power Co.'s $150 million 7 percent first and refunding mortgage bonds due July 1, 2033 are rated 'AA' by Fitch. The credit trend is stable.
 The ratings reflect a well managed capital structure, constructive regulatory environment, a diverse electric generating mix, and exceptional nuclear operations, as well as growing but manageable construction requirements.
 Over the next several years, higher construction expenditures and a related rise in external financing requirements will exert pressure on credit quality measures. Forecast expenditures are designated for a plant modernization program and, beginning in 1995, the replacement of the steam generators at the McGuire and Catawba nuclear units, and construction of 16 combustion turbines between 1995 and 1997. The expenditures will increase the company's net plant investment by about 10 percent annually. No new base load capacity is currently planned nor anticipated in the 1990s.
 -0- 7/20/93
 /CONTACT: Robert Hornick of Fitch, 212-908-0564/
 (DUK)


CO: Duke Power Company ST: North Carolina IN: UTI SU: RTG

WB -- NY065 -- 6810 07/20/93 12:20 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
Words:177
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