MOODY'S MAY DOWNGRADE P.S. NEW HAMPSHIRE <PNH>
Moody's Investors Service Inc said it
may downgrade 1.3 billion dlrs of debt of Public Service
Company of New Hampshire.
    Under review are B-1 first mortgage bonds, B-2 refunding
mortgage bonds, B-3 third mortgage and secured pollution
control revenue bonds, Caa debentures and preferred stock.
    Moody's cited an uncertain ability to meet fixed-income
obligations due to the Nuclear Regulatory Commission's refusal
to grant a low-power operating license because of inadequate
evacuation plans. The firm depends on credit markets to fund
obligations, due to a negative internal cash flow, it said.
 Reuter
