Printer Friendly

PENNSYLVANIA POWER & LIGHT $300 MILLION FIRST MORTGAGE BONDS RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 PENNSYLVANIA POWER & LIGHT $300 MILLION FIRST MORTGAGE BONDS
 RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, May 19 /PRNewswire/ -- Pennsylvania Power & Light Co.'s (PP&L) (NYSE: PPL) new issues of first mortgage bonds totalling $300 million are rated "A" by Fitch, it was announced today. The issues, which are takedowns from a previously rated $500 million shelf registration, are expected to include a $150 million ten-year issue and a $150 million 30-year issue to be priced later today. The credit trend is improving.
 Due to strong cash flow, moderate capital requirements, and refinancing opportunities, bondholder protection measures have improved steadily since 1985 and are solidly in the "A" range. Fitch anticipates these measures to be relatively stable, which accounts for the change in credit trend. The ability to control costs, however, will be critical in meeting the company's corporate goal of not raising rates before 1995 at the earliest.
 -0- 5/19/92
 /CONTACT: Robert Hornick of Fitch, 212-908-0564/
 (PPL) CO: Pennsylvania Power & Light Co. ST: Pennsylvania IN: UTI SU: RTG


TS -- NY068 -- 1831 05/19/92 12:31 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 19, 1992
Words:182
Previous Article:NURSING HOME WORKERS PETITION THEIR LEGISLATORS FOR BETTER CARE FOR RESIDENTS AND IMPROVED WORKING CONDITIONS
Next Article:JM CLIPPER CORPORATION ACQUIRES ELASTO-TEC, INC.
Topics:


Related Articles
DUQUESNE LIGHT COMMERCIAL PAPER RATED 'F-2' BY FITCH -- FITCH FINANCIAL WIRE --
LILCO $131 MILLION GENERAL & REFUNDING MORTGAGE BONDS RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --
DUQUESNE LIGHT $100 MILLION 8.75 PERCENT COLLATERAL TRUST BONDS 'BBB+' BY FITCH -- FITCH FINANCIAL WIRE --
VIRGINIA ELECTRIC $370 MILLION SENIOR DEBT RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
TEXAS UTILITIES $500 MILLION IN 3 ISSUES RATED 'BBB' BY FITCH --FITCH FINANCIAL WIRE--
MONONGAHELA POWER $25 MILLION FIRST MORTGAGE BONDS 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
WEST PENN POWER $135 MILLION FIRST MORTGAGE BONDS 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
DUKE POWER $200 MILLION SEVEN PERCENT FIRST AND REFUNDING MORTGAGE BONDS 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
PENN POWER & LIGHT $200 MILLION 7.7% BONDS RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
PENN POWER & LIGHT 'A' MORTGAGE BONDS, 'A-' PREFERRED AFFIRMED BY FITCH

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters