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LILCO $131 MILLION GENERAL & REFUNDING MORTGAGE BONDS RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --

LILCO $131 MILLION GENERAL & REFUNDING MORTGAGE BONDS RATED 'BBB' BY
 FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, May 12 /PRNewswire/ -- Long Island Lighting Co.'s (LILCO) two issues of general & refunding bonds are rated 'BBB' by Fitch. The issues include $75 million 8.5 percent bonds due May 15, 2006, and $56 million 7.85 percent bonds due May 15, 1999. Both issues are takedowns from a shelf registration rated by Fitch on April 23. The credit trend is improving.
 LILCO is assured of electric rate increases through December 1993 which include unique revenue and fuel ratemaking mechanisms. The ratings also reflect the continued aggressive refinancing of high cost debt and preferred stock, low acid rain exposure, and the recent transfer of ownership of the Shoreham nuclear plant to the Long Island Power Authority.
 -0- 5/12/92
 /CONTACT: Stephen Fedun of Fitch, 212-908-0568/ CO: Long Island Lighting Co. ST: New York IN: UTI SU: RTG


SH -- NY086 -- 9239 05/12/92 15:13 EDT
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Publication:PR Newswire
Date:May 12, 1992
Words:164
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