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METROPOLITAN EDISON COMPANY SHELF REGISTRATION FIRST MORTGAGE BONDS/SECURED MEDIUM-TERM NOTES RATED BY DUFF & PHELPS

 CHICAGO, Dec. 3 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned ratings to Metropolitan Edison Company's (Met Ed) $300 million combination shelf registration for first mortgage bonds, secured medium- term notes, Series C, and cumulative preferred stock. Ratings of "A-" (Single-A-Minus) apply to the first mortgage bond and secured medium- term note portions and a rating of "BBB+" (Triple-B-Plus) applies to the cumulative preferred stock portion. Proceeds will be used to repay or redeem outstanding debt, for construction or for general corporate purposes.
 Metropolitan Edison will experience increased pressure on coverages and debt levels as the need to finance a growing construction program continues. The company has a heavy reliance on purchased power, further straining these fundamentals. Reserve margins are low and will continue to weaken through the mid 1990s.
 Approval of the power purchase agreement with Duquesne Light Company and the construction and ownership of the related transmission line, remain uncertain. Hearings on the siting of the line are ongoing, with a decision from the Pennsylvania Public Utility Commission not expected until mid-1994 at the earliest.
 Metropolitan Edison Company, a subsidiary of General Public Utilities Corporation, provides electric services in eastern and south central Pennsylvania.
 -0- 12/2/93
 /CONTACT: William A. Abrams, CFA, of Duff & Phelps Credit Rating Co., 312-368-3112/
 (GPU)


CO: Metropolitan Edison Company ST: Pennsylvania IN: UTI SU: RTG

TW -- NY025 -- 0170 12/03/93 11:07 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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