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NEW ORLEANS PUBLIC SERVICE INC. $70 MILLION GENERAL AND REFUNDING MORTGAGE BONDS RATED 'BBB' BY DUFF & PHELPS

 CHICAGO, Feb. 24 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of BBB' (Triple-B) to New Orleans Public Service Inc.'s offering of $45 million general and refunding mortgage bonds due March 1, 2023, and $25 million general and refunding mortgage bonds due
March 1, 2003. Both issues are non-callable for five years. Proceeds will be used for the retirement and redemption of outstanding securities.
 Credit protection measures are improving as the company continues to recover $90 million of its previously deferred Grand Gulf costs. The improvement trend in cash coverages should continue until 2001, then stabilize, when Grand Gulf deferrals will be fully recovered. Strong cash flow and limited construction expenditures should allow New Orleans Public Service to retire debt and significantly improve its balance sheet. Continued improvement also will be predicated on management's ability to operate within the Grand Gulf settlement, which includes a base rate freeze through 1996.
 The rating recognizes the company's significant Grand Gulf purchased power obligation, which substantially reduces coverages. New Orleans Public Service's reserve margin is low. Access to the other Entergy operating companies' reserves mitigates supply problems.
 New Orleans Public Service, a subsidiary of Entergy Corporation, provides electric service to the city of New Orleans.
 -0- 2/24/93
 /CONTACT: William A. Abrams, CFA of Duff & Phelps Credit Rating Co., 312-368-3112/
 (ETR)


CO: Entergy Corporation; New Orleans Public Service Inc. ST: Louisiana IN: UTI SU: RTG

PS -- NY021 -- 9812 02/24/93 10:25 EST
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Publication:PR Newswire
Date:Feb 24, 1993
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