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LILCO $451 MILLION 9 PERCENT DEBENTURES RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 LILCO $451 MILLION 9 PERCENT DEBENTURES RATED 'BBB-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 29 /PRNewswire/ -- Long Island Lighting Co.'s $451 million issue of 9 percent debentures due Nov. 1, 2022, is rated 'BBB-' by Fitch. The issue is a takedown from a previously rated shelf registration. The credit trend is improving. 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- 10/29/92
 /CONTACT: Stephen Fedun of Fitch, 212-908-0568/
 (LIL) CO: Long Island Lighting Co. ST: New York IN: UTI SU: RTG


PS -- NY027 -- 6452 10/29/92 09:47 EST
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Publication:PR Newswire
Date:Oct 29, 1992
Words:128
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