NY -- Standard&Poor's CreditWire 7/27/98 -- Standard&Poor's today assigned its double-'B'-plus senior secured debt rating to Tucson Electric Power Co.'s $140 million first collateral trust bonds series A due 2008 Rule 144a with registration rights. The rating incorporates Standard&Poor's ultimate recovery analysis, which projects that the value of the company's utility plant collateral will substantially exceed the maximum of first mortgage bonds that could be outstanding under the indenture. The bonds will be secured under the company's first mortgage indenture. Upon the retirement of the bonds issued under the 1941 First Mortgage indenture, these bonds will become obligations under the 1992 mortgage indenture, which is currently the company's second mortgage indenture. Also, these bonds
