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LILCO $200 MILLION 7.125 PERCENT DEBENTURES DUE 2005 RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, May 21 /PRNewswire/ -- Long Island Lighting Co.'s (LILCO) new $200 million 7.125 percent noncallable debentures due June 1, 2005 are rated 'BBB-' by Fitch. The credit trend is improving. Proceeds of this issue will be used for construction expenditures, treasury reimbursement, and other general corporate purposes.
 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- 5/21/93
 /CONTACT: Stephen Fedun of Fitch, 212-908-0568/
 (LIL)


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

SH -- NY012 -- 1104 05/21/93 09:23 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 21, 1993
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