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Article: Duff and Phelps assigns a rating of Duff 1 Minus to Jim Walter's new commercial paper program.
- Article from:
- PR Newswire
- Article date:
- March 14, 1986
CopyrightCOPYRIGHT 1986 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, March 14 /PRNewswire/ -- Duff & Phelps, the national credit rating agency, today assigned a rating of Duff 1 Minus (one minus) to Jim Walter's new commercial paper program.
This is the agency's initial rating of Jim Walter commercial paper.
Jim Walter's new commercial paper program, limited to a maximum level of $150 million, replaces a previous program backed by a letter of credit from Credit Suisse. The new program is supported by lines of credit totaling $267 million at Nov. 30, 1985, from various domestic and foreign banks.
"The rating reflects Jim Walter's progress in restoring earnings from the depressed 1981-82 period," ...