MOODY'S MAY UPGRADE BELL ATLANTIC <BEL> UNIT
Moody's Investors Service Inc said it
may upgrade 1.28 billion dlrs of debt of New Jersey Bell
Telephone Co, a unit of Bell Atlantic Corp.
    The agency will evaluate New Jersey Bell's ability to
sustain its improved financial performance, including interest
coverage, capital structure and profitability. Moody's will
also assess the likelihood of continued constructive regulatory
treatment.
    New Jersey Bell currently carries Aa-1 debentures. Its
Prime-1 commercial paper rating is not under review. Moody's
also cited a strong New Jersey economy.
 Reuter
