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SOUTH JERSEY GAS $35 MILLION BONDS RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, June 7 /PRNewswire/ -- South Jersey Gas Co.'s (SJG) $35 million first mortgage bonds due June 2013 are rated `BBB.' The credit trend is stable. These securities will be privately placed and qualify to be resold under Rule 144A of the Securities and Exchange Commission.
 The `BBB' rating reflects Fitch's assessment of SJG's overall creditworthiness and expectations of stable financial performance going forward. Positive operating characteristics include an improving southern New Jersey economy, a growing service territory, balanced regulatory treatment, a competitively advantageous market position, a high-quality main system, and efficient operations. Fitch's primary concern is SJG's overall debt leverage, particularly its high historical and anticipated balances of short-term bank debt, which exceed levels expected for gas distribution companies.
 -0- 6/7/93
 /CONTACT: Ralph Pellecchia of Fitch, 212-908-0586/


CO: South Jersey Gas Co. ST: New Jersey IN: UTI SU: RTG

CK -- NY083 -- 6231 06/07/93 17:08 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
Words:152
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