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PEOPLES GAS, NORTH SHORE 'AA-' DEBT, 'F-1+' CP AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 28 /PRNewswire/ -- Peoples Energy Corp. (NYSE: PGL) subsidiaries, Peoples Gas Light and Coke Co. and North Shore Gas Co., `F-1+' commercial paper is affirmed by Fitch. Affirmed at `AA-' are People's Gas' $75 million first mortgage bonds and $200 million gas supply revenue bonds, and North Shore Gas' $40 million first mortgage bonds. The credit trend is stable.
 The ratings reflect the companies' strong operating fundamentals, a stable service territory, diverse and secure gas supply, reasonable regulatory environment, and manageable capital plans. Colder weather and rate relief at Peoples Gas has bolstered 1993 financial performance and will result in improved credit measures for the year. Key to maintenance of strong and stable credit fundamentals going forward will be adequate and timely rate relief.
 Fitch believes that the companies' conservative financial posture and favorable gas supply and storage capabilities will enable it to respond positively to the added industry risk resulting from the implementation of FERC Order 636.
 -0- 7/28/93
 /CONTACT: Ralph Pellecchia of Fitch, 212-908-0586/
 (PGL)


CO: Peoples Energy Corp. ST: Illinois IN: UTI SU: RTG

MP -- NY060 -- 7291 07/28/93 12:01 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:190
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