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Article: Fitch Rts Lincoln - NE - Electric System's $141MM Rev Ref Bnds 'AA'.
- Article from:
- Business Wire
- Article date:
- September 11, 2002
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Copyright informationCOPYRIGHT 2002 Business Wire. 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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Business Editors
NEW YORK--(BUSINESS WIRE)--Sept. 11, 2002
Fitch Ratings has assigned a 'AA' rating to Lincoln (NE) Electric System's (LES) $141 million electric revenue refunding bonds, series 2002, and affirms the outstanding $214 million of revenue bonds. The commercial paper rating of 'F1+' is also affirmed. Proceeds from the 2002 bond issue will be used to retire a portion of LES' 1993 series bonds. The bonds will be secured by the utility's net revenues and will be issued, along with the 2001 bonds, pursuant to LES' General Ordinance lien, making the issue subordinate to LES' prior lien bonds (series 1993 and 1998). The prior lien is closed. The Rating Outlook ...
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