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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report
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Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: June 6, 1994
LONG ISLAND LIGHTING COMPANY
(Exact name of registrant as specified in charter)
New York 1-3571 11-1019782
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
175 East Old Country Road, Hicksville, New York 11801
516-755-6650
(Address and telephone number of Principal Executive Offices)
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Item 1. Changes in Control of Registrant
Not applicable.
Item 2. Acquisition or Disposition of Assets
Not applicable.
Item 3. Bankruptcy or Receivership
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Information
As part of its review of the Company's proposed sale of General and
Refunding Bonds ("G&R Bonds"), Moody's Investors Service, Inc. ("Moody's") has
downgraded the long-term credit ratings of the Company's securities. In
addition to Moody's, the Company's securities are also rated by Standard and
Poor's Corporation ("S&P"), Fitch Investors Service, Inc. ("Fitch") and Duff
and Phelps, Inc. ("D&P"). The current ratings of the Company's securities as
follows:
<TABLE>
<S> <C> <C> <C> <C>
Moody's S&P Fitch D&P
------- --- ----- ---
First Mortgage Bonds . . . . . . Baa3 BBB- BBB BBB
G&R Bonds. . . . . . . . . . . . Baa3 BBB- BBB BBB
1985 Pollution Control
Revenue Bonds* ("PCRBs"). . . . Aaa NR NR NR
1993 Electric Facilities
Revenue Bonds* ("EFRBs"). . . . Aa2 NR NR NR
Other PCRBs and EFRBs
(unsecured) . . . . . . . . . . Ba1 BB+ NR NR
Debentures (unsecured) . . . . . Ba1 BB+ BBB- BB+
Preferred Stock. . . . . . . . . "ba1" BB+ BBB- BB
MINIMUM INVESTMENT GRADE BAA3 BBB- BBB- BBB-
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</TABLE>
* - Secured by Letters of Credit.
NR - Not rated.
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Item 6. Resignations of Registrant's Directors
Not applicable.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits
Not applicable.
Item 8. Change in Fiscal Year
Not applicable.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
LONG ISLAND LIGHTING COMPANY
Registrant
By /s/ THEODORE A. BABCOCK
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THEODORE A. BABCOCK
Treasurer
Dated: June 6, 1994
