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OGLETHORPE POWER CORP. (GA.) PCR BONDS RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 OGLETHORPE POWER CORP. (GA.) PCR BONDS RATED 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 3 /PRNewswire/ -- Monroe County (Ga.) Development Authority's $150.9 million Pollution Control Revenue Bonds (Oglethorpe Power Corp. Scherer Project), Series 1992A are rated 'A+' by Fitch. The 'A+' rating on $1.13 billion of outstanding pollution control revenue bonds issued on behalf of Oglethorpe Power Corp. is affirmed. The credit trend is stable.
 As a leading generation and transmission (G&T) electric cooperative, Oglethorpe Power Corp. benefits from a broad-based service area, consistently sound financial operations, and a well regarded management team. In addition, Oglethorpe enjoys a diversified resource mix through power purchase arrangements and its joint ownership interest in various coal and nuclear units. Additional power resource flexibility and opportunities for greater off-system sales are provided through power purchase agreements with the Georgia Power Co. (GPC).
 While the rate differential between Oglethorpe and its two main competitors, GPC and the Municipal Electric Authority of Georgia, has narrowed in recent years, strong competition for new electric customers and Oglethorpe's projection of future rate increases highlight the importance of maintaining rate competitiveness and minimizing rate adjustments. Previous litigation regarding a safe harbor lease transaction has been resolved in Oglethorpe's favor, but other legal issues remain outstanding. Negotiations with the Internal Revenue Service over tax-related issues are expected to be resolved this year. Although Oglethorpe's maximum potential liability in this matter is significant, comfort is derived from the G&T's strong cash position and financial liquidity.
 -0- 9/3/92
 /CONTACT: Susan M. Courtney, 212-908-0503, or Alan Spen, 212-908-0594, both of Fitch/ CO: Oglethorpe Power Corp. ST: Georgia IN: UTI SU: RTG


SM -- NY021 -- 6267 09/03/92 09:20 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:285
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