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MOODY'S RAISES RATING ON LINCOLN ELECTRIC NEBRASKA POWER SUPPLY AND DISTRIBUTION REVENUE BONDS; STRONG MANAGEMENT AND LINCOLN ECONOMY CITED

MOODY'S RAISES RATING ON LINCOLN ELECTRIC NEBRASKA POWER SUPPLY AND DISTRIBUTION REVENUE BONDS; STRONG MANAGEMENT AND LINCOLN ECONOMY CITED
 NEW YORK, Aug. 18 /PRNewswire/ -- Effective yesterday, Moody's Investors Services raised the rating on Lincoln Electric Power Supply Facilities and Distribution Facilities Bonds from 'A1' to 'Aa'. Lincoln Electric is offering through negotiation $135 million of revenue bonds expected during the week of


Aug. 17. Moody's said, "This well managed electric utility has demonstrated a long-term record of maintaining stable annual margins of sound debt service coverage, while rates have risen well below inflation. Electric retail rates continue to be among the lowest in national comparisons. Lincoln has a diversified resource mix and the utility is reasonably well prepared to meet base load and peak demand requirements over the medium term. The Lincoln economy remains strong and projections indicate the customer base will continue to expand. The combination of these factors support an upgrade in Lincoln Electric's rating from 'A1' to 'Aa'. This refunding is partly a crossover refunding; overall, the present value savings are favorable and no material change to debt structure has taken place.
 -0- 8/18/92
 /CONTACT: Dan Aschenbach, vice president, 212-553-0880, or David Ambler, vice president/assistant director, 212-553-4388, both of Moody's Public Finance Department/ CO: Lincoln Electric Power Supply Facilities ST: Nebraska IN: UTI SU: RTG


AH -- NY027 -- 0868 08/18/92 10:17 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
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