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Article: DUFF & PHELPS RATES BAY STATE GAS COMPANY'S MEDIUM-TERM NOTES 'A'
- Article from:
- PR Newswire
- Article date:
- June 4, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, June 4 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of `A' (Single-A) to Bay State Gas Company's $125 million medium-term note program. Proceeds will be used to repay outstanding short-term debt, refund long-term debt and/or redeem preferred stock, and for construction.
Bay State Gas has strong financial protection measures with common equity comprising approximately one-half of total capitalization. The company has issued a combination of debt and equity to maintain the capital structure during periods of increased capital spending. Bay State Gas also has taken advantage of opportunities to refinance higher cost debt and preferred ...
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