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LILCO $145 MILLION 6.25 PERCENT DEBENTURES DUE 2001 RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 7 /PRNewswire/ -- Long Island Lighting Co.'s (LILCO) new $145 million 6.25 percent noncallable debentures due July 15, 2001 are rated 'BBB-' by Fitch. The issue is a takedown from a previously rated shelf registration. The credit trend is improving. Proceeds of this issue will be used to redeem the following three series of first mortgage bonds: $40 million 7.25 percent series U due 2001, $50 million 7.5 percent series V due 2001, and $50 million 7-5/8 percent series W due 2002.
 The rating reflects the assurance of electric rate increases, with incentives, through December 1993, continued aggressive refinancing of high-cost debt and preferred stock, and a significant improvement in earnings quality, cash flow, and internal cash generation over the next several years.
 -0- 7/7/93
 /CONTACT: Stephen Fedun of Fitch, 212-908-0568/
 (LIL)


CO: Long Island Lighting Co. ST: New York IN: UTI SU: RTG

SH -- NY032 -- 9039 07/07/93 11:13 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 7, 1993
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