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ESCAMBIA COUNTY, FLA., $32.550 MILLION POLLUTION CONTROL REVENUE REFUNDING BONDS RATED 'A', SERIES 1993 BY DUFF & PHELPS

 CHICAGO, May 25 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of `A' (Single-A) to Escambia County, Florida's offering of $32.550 million of collateralized pollution control revenue refunding bonds (Gulf Power Company Project).
 Current interest coverage ratios should be sustainable over the next several years, with the debt ratio relatively constant. Construction expenditures are higher than in past years, but internally generated cash should provide the majority of requirements. Regulatory support will be necessary to maintain Gulf Power's credit profile long-term. Off-system sales will provide opportunities to increase earnings.
 Gulf Power's parent, The Southern Company, has developed a system- wide compliance plan for the Clean Air Act (CAA). Gulf Power, with a virtually all coal fuel mix, has a proportionately high exposure to the CAA requirements relative to other Southern Company system companies. An estimated increase in revenue requirements of up to eight percent could be necessary.
 Gulf Power, a wholly owned subsidiary of The Southern Company, provides electric service in a 7,400 square mile area of northwestern Florida.
 -0- 5/25/93
 /CONTACT: William A. Abrams, CFA of Duff & Phelps Credit Rating Co., 312-368-3112/


CO: ST: Florida IN: SU: RTG

PS -- NY062 -- 3530 05/25/93 12:33 EDT
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Publication:PR Newswire
Date:May 25, 1993
Words:204
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