Article: Duff and Phelps assigns a rating of Duff 1 Minus to Jim Walter's new commercial paper program.

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," ...

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