HECHINGER <HECHA> DEBT UPGRADED BY MOODY'S
Moody's Investors Service Inc said it
raised to Baa-3 from Ba-1 about 86 mln dlrs of subordinated
debt of Hechinger Co.
    The rating agency cited Hechinger's consistently increasing
profitability and relatively stable financial structure.
Moody's pointed out that the company has minimal levels of
variable rate debt.
    Hechinger is aggressively expanding its stores with a
distribution outlet and 28 outlets planned in the next two
years. Moody's said the company's healthy cash flows, along
with outside financings, will be used to fund this growth.
 Reuter
