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DUKE POWER FIRST MORTGAGE BOND SHELF RATED 'AA', PREFERRED STOCK SHELF RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 20 /PRNewswire/ -- Duke Power Co.'s $750 million first and refunding mortgage bond shelf is rated 'AA' by Fitch. In addition, the company's $110 million preferred stock shelf is rated 'AA-'. 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% annually. No new base load capacity is currently planned nor anticipated in the 1990s.
 -0- 10/20/93
 /CONTACT: Robert Hornick of Fitch, 212-908-0564/
 (DUK)


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

WB -- NY106 -- 4809 10/20/93 17:26 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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