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FITCH AFFIRMS ARKLA 'BBB-' NOTES AND DEBENTURES; MONITORS RTC LAWSUIT -- FITCH FINANCIAL WIRE --

FITCH AFFIRMS ARKLA 'BBB-' NOTES AND DEBENTURES; MONITORS RTC LAWSUIT
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 28 /PRNewswire/ -- Arkla, Inc.'s 'BBB-' debentures and notes are affirmed by Fitch. There is no change in the credit trend; it remains uncertain.
 The Resolution Trust Corp. recently filed suit against several parties, including Arkla, to recover approximately $535 million in connection with the failure of University Savings Association, a Houston thrift. Entex, which merged with Arkla, Inc., in 1988, owned the thrift before it was sold to University Savings management in 1987. Regulators seized the thrift in 1989.
 Fitch believes that it is premature to judge the merits of this litigation or predict its resolution. Fitch continues to monitor the status of this case and its implications for Arkla's liquidity and credit quality.
 Longer term, improvement in Arkla's credit fundamentals hinges upon reducing debt as well as restructuring pipeline and energy exploration/production assets to increase their operating profit margins.
 -0- 10/28/92
 /CONTACT: William Stellenwerf of Fitch, 212-908-0558/
 (ALG) CO: Arkla, Inc. ST: Louisiana IN: OIL SU: RTG


AH -- NY129 -- 6291 10/28/92 17:34 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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