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ORANGE & ROCKLAND UTILITIES $55 MILLION DEBENTURES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 23 /PRNewswire/ -- Orange and Rockland Utilities, Inc.'s (O&R) new $55 million debentures are rated AA-' by Fitch. The new debentures include $20 million 6.14 percent debentures due March 1, 2000, and $35 million 6.56 percent debentures due March 1, 2003.
 Credit quality is expected to improve over the next few years due to the recent gas rate increase, controlled operating costs, and the effect of lowered interest costs achieved by refinancing higher coupon first mortgage bonds with the sale of debentures.
 -0- 2/23/93
 /CONTACT: John Watt of Fitch, 212-908-0523/
 (ORU)


CO: Orange & Rockland Utilities, Inc. ST: New York IN: UTI SU: RTG

WB -- NY095 -- 9616 02/23/93 17:20 EST
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Date:Feb 23, 1993
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