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TEXAS UTILITIES $250 MILLION SENIOR DEBT RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --

 TEXAS UTILITIES $250 MILLION SENIOR DEBT RATED 'BBB' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, April 7 /PRNewswire/ -- Texas Utilities Electric Co.'s (NYSE: TXU) (TUEC) new $50 million Brazos River Authority (Texas) collateralized pollution control revenue bonds series 1992A and $200 million first mortgage and collateral trust bonds are rated 'BBB' by Fitch. The credit trend is stable. Both issues are expected to be priced on April 9. TUEC is proposing to redeem $250 million of 10.5 percent first and collateral trust bonds due April 1, 2017, on April 17.
 The rating reflects Fitch's expectation that key financial indicators will move to much stronger levels once all of the Comanche Peak nuclear plant is reflected in rates. The company expects to file the next rate case in time to bond rates at Comanche Peak 2's 1993 commercial operation date. Earnings quality and cash flow protection measures are recovering modestly. Internal generation improved to 19 percent in 1991 from 4 percent the year earlier and 1991's pre-tax interest coverage without allowance for funds used during construction (AFUDC), adjusted to exclude a $1.3 billion writeoff, was 1.71 times (x) versus 1.70x in 1990.
 -0- 4/7/92
 /CONTACT: Anne F. Faber of Fitch, 212-908-0566/
 (TXU) CO: Texas Utilities Electric Co. ST: Texas IN: UTI SU: RTG


SB -- NY045 -- 5893 04/07/92 14:20 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
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