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WASHINGTON GAS LIGHT 'AA-' BONDS, 'A+' NOTES AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --

 WASHINGTON GAS LIGHT 'AA-' BONDS, 'A+' NOTES AFFIRMED BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Jan. 29 /PRNewswire/ -- Washington Gas Light Co.'s (WGL) $212 million "AA-" first mortgage bonds, $79 million "A+" unsecured notes, $28 million "AA-" preferred stock, and "F-1+" commercial paper are affirmed by Fitch. About $71 million remains issuable under the company's existing shelf registration. The credit trend is stable.
 The rating is based on anticipated continuation of WGL's strong financial profile and liquidity. Credit measures will show moderate improvement with the return of closer to normal weather conditions. Pretax interest coverage should approach the 4.0 times (x) range for 1992-1995, after ending 1991 at 3.64x. WGL's balance sheet will remain conservative.
 The metro-Washington economy has slowed considerably from the rapid expansion exhibited in the late 1980s. However, moderate sales growth should continue for WGL throughout the 1990s with increased penetration into new markets and opportunities to serve an expanding service territory. Over the long term, incremental business will develop in the natural gas vehicle and electric generation markets, prompted by the environmental advantages of natural gas.
 WGL has kept gas rate-hikes low primarily through an aggressive market-sensitive gas supply strategy and efficient operations. This trend should continue. In addition, capital spending will be maintained at manageable levels for the next five years. There are no rate cases pending and no rate relief is expected in 1992.
 -0- 1/29/92
 /CONTACT: Ralph G. Pellecchia of Fitch, 212-908-0586/
 (WGL) CO: Washington Gas Light Co. ST: District of Columbia IN: UTI SU: RTG


SH -- NY055 -- 4760 01/29/92 13:06 EST
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Publication:PR Newswire
Date:Jan 29, 1992
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