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TEXAS UTILITIES $500 MILLION FIRST MORTGAGE 'BBB'; PREFERRED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 16 /PRNewswire/ -- Texas Utilities Electric Co.'s (TUEC) new $500 million first mortgage bonds are rated "BBB" by Fitch. The new issue includes $175 million 5-7/8 percent bonds, due April 1, 1998, $100 million 6-3/4 percent bonds due, April 1, 2003, and $225 million 7-7/8 percent bonds due, April 1, 2024. The bonds are takedowns from an existing shelf registration.
 Also, TUEC's new $225 million shelf registration of preferred stock, which includes $25 million of preferred from a previously existing shelf, is rated "BBB-".
 The rating reflects Fitch's expectations that key financial measurements will improve significantly once the Comanche Peak nuclear plant is substantially reflected in base rates.
 On Feb. 2, the Nuclear Regulatory Commission (NRC) granted approval to start low-power testing of Comanche Peak Unit 2. Low power testing was completed in March and the full power operating license was approved by the NRC on April 6. Full commercial operation is expected during the summer of this year. Unit 1 began commercial operation in 1990.
 Construction expenditures, excluding allowance for funds used during construction, are estimated at $580 million in 1993, $560 million in 1994, and $790 million in 1995. Over the next 10 years, the company expects to provide approximately 18 percent of estimated energy needs through conservation and load management programs. In addition to Commanche Peak 2, the company plans to add 1,580 megawatts of gas-fueled combustion turbines between 1998 and 2002.
 -0- 4/16/93
 /CONTACT: Stephen Fedun of Fitch, 212-908-0568/
 (TXU)


CO: Texas Utilities Electric Co. ST: Texas IN: UTI SU: RTG

TS -- NY076 -- 6945 04/16/93 16:44 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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