Printer Friendly

FITCH TO HOLD SITHE/INDEPENDENCE CONFERENCE CALL ON DEC. 17 -- FITCH INVESTORS SERVICE --

 NEW YORK, Dec. 15 /PRNewswire/ -- Fitch is offering investors a toll-free conference call with its analysts to discuss Sithe/Independence Funding Corp.'s "BBB" senior debt rating at 3 p.m. on Thursday, Dec. 17.
 Alan Spen, managing director of public finance; Robert Hornick, senior vice president; and Ralph G. Pellecchia, senior vice president, will describe Fitch's rating rationale and answer investor questions.
 Fitch rated Sithe/Independence Funding Corp.'s planned issue of $713 million in secured notes "BBB" on Nov. 20 offered under Rule 144A. Proceeds will finance the 1000 megawatt gas-fired Independence cogeneration project in Oswego, N.Y.
 The investment grade rating primarily reflects the strength of the fixed-price, turnkey construction contract, the quality of the contractors, a consortium of General Electric Corp. and Ebasco, and the plant's conventional gas-fired technology. The "AA" credit rating of the primary power purchaser, Con Edison, strong community support, and the favorable cost and environmentally clean source of the power are also important rating considerations.
 Anyone interested in hearing this discussion should call Fitch Market Services at (1-800) 75-FITCH to obtain the toll-free conference call number and password.
 Anyone who would like a copy of the report should call Andrew Oliver at 212-908-0579.
 -0- 12/15/92
 /CONTACT: Andrew Oliver of Fitch, 212-908-0579/


CO: Fitch Investors Services; Sithe/Independence Funding Corp. ST: New York IN: FIN SU: UTI

GK -- NY035 -- 4661 12/15/91 11:35 EST
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:Dec 15, 1992
Words:235
Previous Article:ITT SHERATON NAMES ANTHONY ZAMORA SENIOR VICE PRESIDENT, DIRECTOR OF OPERATIONS, ASIA/PACIFIC DIVISION
Next Article:NEW JAPANESE LAUNCH CONTRACT FOR ARIANESPACE; ARIANESPACE IS SELECTED TO LAUNCH BS-3N, A DIRECT BROADCASTING SATELLITE FOR NHK, JSB (JAPAN)
Topics:


Related Articles
RESOLUTION TRUST CORP. SERIES 1991-17 RATED 'AAA'/'AA' BY FITCH -- FITCH FINANCIAL WIRE --
ENRON POWER SERVICES SIGNS 20-YEAR GAS CONTRACT FOR SITHE ENERGIES GROUP'S INDEPENDENCE STATION
EMPIRE STATE PIPELINE, SITHE ENERGIES SIGN AGREEMENT
FITCH TO CONDUCT CONFERENCE CALL ON GEORGIA PACIFIC -- FITCH FINANCIAL WIRE --
SITHE/INDEPENDENCE FUNDING CORP. SECURED NOTES RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --
SITHE/INDEPENDENCE FUNDING CORP. SECURED NOTES RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --
FITCH SAYS SITHE/INDEPENDENCE PURCHASE AMENDMENT NOT MATERIAL -- FITCH FINANCIAL WIRE --
BAYSIDE COGENERATION PROJECT $55 MILLION REVENUE BONDS 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --
Fitch Witdraws Imperial Credit Industries Senior Notes Rating -- Fitch Financial Wire --
Sithe/Independence Funding Corporation and Sithe/Independence Power Partners, L.P. Receive Waivers from Bondholders.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters