Printer Friendly

DUKE POWER CO. $165 MILLION NOTES RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 DUKE POWER CO. $165 MILLION NOTES RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 29 /PRNewswire/ -- Duke Power Co.'s new issues of $165 million notes are rated 'AA' by Fitch. The issues are $100 million 5-5/8 percent notes due Aug. 12, 1997, and $65 million 6-1/4 percent notes due Aug. 12, 1999. The credit trend is stable.
 The utility's overall financial condition has been stable. For the twelve 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- 7/29/92
 /CONTACT: Anne Faber of Fitch, 212-908-0566/
 (DUK) CO: Duke Power Co. ST: North Carolina IN: UTI SU: RTG


SH -- NY082 -- 4646 07/29/92 13:19 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 29, 1992
Words:199
Previous Article:WISCONSIN TELECOMMUNICATIONS RELAY SYSTEM TO BEGIN OPERATIONS AUGUST 1
Next Article:TELLUS INDUSTRIES ADDRESSES UNUSUAL ACTIVITY IN ITS STOCK
Topics:


Related Articles
DUKE POWER $100 MILLION 7 PERCENT BONDS RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $200 MILLION SENIOR DEBT SHELF 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 $750 MILLION SENIOR DEBT RATED 'AA', PREFERRED '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 --
Fitch Rates Duke Power $1B Shelf Registration Split 'AA'/'AA-' -- Fitch Financial Wire --

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