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JACKSONVILLE ELECTRIC AUTHORITY (FL) ELECTRIC BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 6 /PRNewswire/ -- Jacksonville Electric Authority's (JEA) $128.2 million Electric System Revenue Bonds, Series Three 1993A are rated 'AA+' by Fitch. The ratings on $2.0 billion of St. Johns River Power Park System Revenue Bonds, $545.4 million Electric System Bonds, and $169.1 million Bulk Power Supply System Revenue Bonds are affirmed at 'AA+'. The credit trend is stable. The bonds are scheduled to sell through negotiation in January by a J.P. Morgan Securities Inc. syndicate.
 JEA's ratings reflect its diversified power supply program, sound financial operations, very competitive electric rates, and a well regarded management team. The authority's ability to further enhance its resource mix, through the acquisition of an ownership interest in the coal-fired Scherer Unit 4, is a positive for the credit. In addition, JEA's well integrated transmission system enhances the system's overall resource mix. Financial operations remain strong with a solid internal cash flow and debt service coverage of 2.70 times in fiscal 1992. Future capital expenditures are moderate.
 Although the concentration of naval operations in the service area is a point of concern, the diversity of military operations helps to mitigate this risk. Combined, the three bases account for less then 5 percent of total electric sales.
 -0- 1/6/93
 /CONTACT: Susan M. Courtney, 212-908-0503, or Alan Spen, 212-908-0594, both of Fitch/


CO: Jacksonville Electric Authority ST: Florida IN: UTI SU: RTG

PS -- NY010 -- 2095 01/06/93 09:45 EST
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Publication:PR Newswire
Date:Jan 6, 1993
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