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RESTRUCTURED TUCSON ELECTRIC SENIOR DEBT RAISED TO 'BB-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 15 /PRNewswire/ -- Tucson Electric Power Co.'s first mortgage bonds are removed from FitchAlert and raised to 'BB-' from 'CCC'. The action reflects completion of the company's restructuring of its capital structure.
 Any further rating improvement will depend on the outcome of the next rate order from the Arizona Corporation Commission. The company is expected to file for a rate increase in January. While still rated below investment grade, Tucson Electric will have adequate coverages to meet its debt and lease obligations after the restructuring. The credit trend is improving.
 -0- 12/15/92
 /CONTACT: Anne Faber, 212-908-0566, or Josephine Zeppieri, 212-908-0575, both of Fitch/
 (TEP)


CO: Tucson Electric Power Co. ST: Arizona IN: UTI SU: RTG

LD -- NY084 -- 7442 12/15/92 17:35 EST
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Publication:PR Newswire
Date:Dec 15, 1992
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