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TAMPA ELECTRIC COMPANY $200 MILLION

 CHICAGO, May 10 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of `AA' (Double-A) to Tampa Electric Company's shelf registration for $200 million of first mortgage bonds. Combined with a previous registration, $275 million of first mortgage bonds are available for sale. Proceeds will be used for construction, redemption of outstanding bonds, or repayment of short-term debt.
 Tampa Electric's strengths include a conservative capital structure, good earnings quality, and a growing service territory. The company's financial position has benefited from off-system sales efforts and aggressive cost containment programs. The company is in a strong financial position as construction accelerates to meet projected demand in the mid-1990s. Tampa Electric plans to build a 260 mw combined-cycle plant in Polk County, Florida for service in 1995. The project will use clean coal gasification technology and be partially funded by the Department of Energy.
 The Florida Public Service Commission recently authorized base rate increases of $1.2 million and $16.4 million for 1993 and 1994, respectively, with an allowed return on common equity of 12 percent. Continued supportive regulation will be essential to the maintenance of Tampa Electric's credit profile. Capital contributions from parent TECO Energy also are expected to help support the capital structure.
 Tampa Electric, the largest subsidiary of TECO Energy, provides electric service to more than 475,000 customers in a 2,000 square mile area of west central Florida.
 -0- 5/10/93
 /CONTACT: John C. Dell of Duff & Phelps Credit Rating Co., 312-368-3161/
 (TE)


CO: Tampa Electric Company; TECO Energy ST: Florida IN: UTI SU: RTG

SB -- NY059 -- 6487 05/10/93 12:15 EDT
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Publication:PR Newswire
Date:May 10, 1993
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