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RIO GRANDE RESOURCES TRUST 'F-1' CP AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

 RIO GRANDE RESOURCES TRUST 'F-1' CP AFFIRMED BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Jan. 8 /PRNewswire/ -- Rio Grande Resources Trust's 'F-1' commercial paper rating is affirmed by Fitch. The CP rating is based upon the 100 percent standby letter of credit issued by Security Pacific National Bank set to expire Jan. 8, 1993. The program size is $125 million.
 Rio Grande Resources Trust (RGRT), a New York trust, was set up by El Paso Electric Co. (ELPA), a Texas corporation, in 1979. ELPA today filed for Chapter 11 bankruptcy protection. RGRT acquired substantially all of ELPA's interests in nuclear fuel rights for the Palo Verde Nuclear Generating Station project and ELPA is obligated to purchase the enriched nuclear fuel or the heat from the nuclear fuel from the trust.
 The bankruptcy filing should not affect payments to RGRT's CP noteholders because they are fully supported by Security Pacific's commitment.
 -0- 1/8/92
 /CONTACT: J. Douglas Murray or Anne Faber of Fitch, 212-908-0500/ CO: Rio Grande Resources Trust ST: IN: SU: RTG


CK -- NY124 -- 7962 01/08/92 16:56 EST
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Publication:PR Newswire
Date:Jan 8, 1992
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