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FMPA |
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The rating also reflects the systems above average retail rates and off-balance sheet obligations attributable to long-term purchase power contracts with FMPA. While management projects a slight decline in debt service coverage for 2006, it is Fitch's anticipation that coverage will return to historical levels soon thereafter, following the run-off of the FMPA contract, and Lakeland Electric's sound cost recovery mechanisms. FMPA is a wholesale power company owned by 29 municipal electric utilities. |
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