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DUKE POWER $200 MILLION SEVEN PERCENT FIRST AND REFUNDING MORTGAGE BONDS 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 DUKE POWER $200 MILLION SEVEN PERCENT FIRST AND REFUNDING
 MORTGAGE BONDS 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 10 /PRNewswire/ -- Duke Power Co.'s new issue of $200 million seven percent first and refunding mortgage bonds is rated 'AA' by Fitch. The credit trend is stable.
 This well managed, soundly capitalized utility has solid generating diversity -- 64 percent nuclear, 34 percent coal, and two percent hydro and other. The utility's overall financial condition has been stable. Duke's continued refinancing of debt has lowered its embedded debt cost. Over the next three years, construction expenditures, including allowance for funds used during construction but excluding nuclear fuel requirements, are estimated at $2.25 billion. Internal cash generation should support about 80 percent of this total.
 Duke, headquartered in Charlotte, N.C., is the nation's seventh largest investor-owned electric utility and serves 4.6 million people in parts of North and South Carolina.
 -0- 9/10/92
 /CONTACT: Anne Faber of Fitch, 212-908-0566/
 (DUK) CO: Duke Power Co. ST: North Carolina IN: UTI SU: RTG


SM -- NY049 -- 7994 09/10/92 11:54 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
Words:183
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