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STANDARD & POORS UPGRADES ITS RATING ON HACKENSACK WATER COMPANY DEBT

STANDARD & POORS UPGRADES ITS RATING ON HACKENSACK WATER COMPANY DEBT
 HARRINGTON PARK, N.J., April 2 /PRNewswire/ -- Hackensack Water Company announced today that Standard & Poor's Corporation (S&P) has upgraded its rating on the utility's senior secured debt issues from A to A+. Hackensack Water is the principal subsidiary of United Water Resources (NYSE: UWR).
 In its announcement issued today, the rating agency cited Hackensack Water's "improving financial profile as construction expenditures subside."
 Robert A. Gerber, chairman of Hackensack Water, said the company was pleased that S&P recognized the health and improved financial condition of United Water's core subsidiary. "This action by S&P highlights the stability and strength of our primary water business."
 -0- 4/2/92
 /CONTACT: Martha Green of Hackensack Water Company, 201-767-2841, or 201-487-0011 (evenings and weekends)/
 (UWR) CO: Hackensack Water Co.; United Water Resources ST: New Jersey IN: UTI SU: RTG


SH -- NY012 -- 4216 04/02/92 09:04 EST
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Publication:PR Newswire
Date:Apr 2, 1992
Words:156
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