P.S. INDIANA <PIN> BONDS UPGRADED BY S/P
Standard and Poor's Corp said it raised
to BBB-plus from BBB Public Service Co of Indiana's first
mortgage bonds.
    The utility's BBB-minus preferred stock was affirmed. The
company has one billion dlrs of debt outstanding.
    S and P cited continuing improvement in earnings protection
measures because of a 1986 emergency rate increase.
    While various writeoffs related to the abandoned Marble
Hill nuclear facility have weakened common equity, the
retention of all common earnings until at least 1989 will help
restore capital structure balance fairly quickly, S/P said.
 Reuter
