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MICHIGAN PUBLIC SERVICE COMMISSION CHAIRMAN STEVEN FETTER JOINS FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Sept. 7 /PRNewswire/ -- Steven M. Fetter, chairman of the Michigan Public Service Commission (MPSC), will join Fitch Investors Service as senior vice president and director of regulatory and governmental affairs in its public utility ratings group, Executive Vice President David Nixon announced today.
 "Steve brings to Fitch an in-depth understanding of the regulatory system in the fast-changing electric, gas and telecommunications industries, as well as a long record of incisive and effective governmental decision making," said Mr. Nixon, "His expertise will be indispensable as we expand our contacts with regulators at the state and federal levels. Interpreting regulatory developments, which has always been an important part of the rating process, will become even more critical in the years ahead as regulators respond to the ever-increasing competitive environment. Establishment of this key new position and hiring a person of Steve's caliber underscores Fitch's commitment to maintaining and expanding our position as a leader in utility credit analysis, and follows upon our publication of `Electric Utilities' Competitive Risks,' which offers an analytical process for identifying an electric utility's vulnerability to competition."
 Mr. Fetter built a highly regarded record of achievement as Michigan's chief regulator of public utilities, telecommunications services, and intrastate trucking. Originally appointed by Democratic Governor James Blanchard in October 1987, Mr. Fetter was elevated to chairman by Republican Governor John Engler in January 1991 and reappointed earlier this year. Mr. Fetter, who will report to managing director Kenneth Alterman, will start at Fitch in early October.
 Under Mr. Fetter's tenure, the MPSC received national recognition for fashioning incentive plans in all regulated industries based on performance, service quality and infrastructure improvement. The commission also resolved longstanding disputes concerning two $4 billion power plants (the Midland Cogeneration Venture and Fermi II). He also implemented guidelines to speed the handling of cases and eliminated the MPSC's backlog of pending cases for the first time in 23 years.
 Before becoming MPSC commissioner, Mr. Fetter served as Acting Associate Deputy Under Secretary of Labor in Washington, Legal Counsel to the Michigan Senate, Assistant Legal Counsel to Michigan Governor William Milliken, and as a litigation attorney in the Appellate Court Branch of the National Labor Relations Board in Washington.
 Mr. Fetter earned a Bachelor of Arts degree in Communications in 1974 and a Juris Doctor degree in 1979 from the University of Michigan. He is Chairman of the Board of the National Regulatory Research Institute at Ohio State University and currently serves on the National Association of Regulatory Utility Commissioners Executive, International Relations, and Natural Gas Committees, and the U.S. EPA/State of Michigan Environmental Risk Analysis Project.
 A New York native, Mr. Fetter, 41, and his wife, Bonnie Kellogg, have three daughters, Jennifer, Jessica, and Sarah.
 -0- 9/7/93
 /CONTACT: Steven Fetter, 517-334-6370, David Nixon, 212-908-0573, or Kenneth Alterman, 212-908-0563, all of Fitch/


CO: Fitch Investors Service ST: New York IN: SU: PER

TS -- NY029 -- 9247 09/07/93 10:17 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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