Printer Friendly

DUKE POWER $75 MILLION MEDIUM-TERM NOTES DUE 2003 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 9 /PRNewswire/ -- Duke Power Co.'s new $75 million 6-1/8 percent medium-term notes due July 22, 2003 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- 7/9/93
 /CONTACT: Robert Hornick, 212-908-0564, of Fitch/
 (DUK)


CO: Duke Power Co. ST: North Carolina IN: UTI SU: RTG

LR -- NY034 -- 9901 07/09/93 12:07 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 9, 1993
Words:176
Previous Article:VF COMMENTS ON WARNACO SUIT
Next Article:ADRIA ANNOUNCES FINALIZATION OF MYCOBUTIN CO-PROMOTION AGREEMENT
Topics:


Related Articles
DUKE POWER $100 MILLION 7 PERCENT BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER CO. $165 MILLION NOTES RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $200 MILLION SEVEN PERCENT FIRST AND REFUNDING MORTGAGE BONDS 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER SENIOR DEBT SHELF RATED 'AA', PREFERRED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $200 MILLION SENIOR DEBT RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $150 MILLION 1ST & REFUNDING MORTGAGE BONDS 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $200 MILLION 8% MORTGAGE BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER FIRST, REFUNDING MORTGAGE BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $700 MILLION SHELF FOR 1ST & REFUNDING MORTGAGE BONDS 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
Duke Power FitchAlert Negative; PanEnergy FitchAlert Positive

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters