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Legal defeasance

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Legal defeasance
The deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the bond indenture.


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00% trust originated preferred securities due 2031 through a legal defeasance.
Fitch has upgraded Central Hudson Gas and Electric Corporation's (CHG&E) senior unsecured obligations and preferred securities to reflect the legal defeasance of its $35 million first mortgage bonds on Nov.
 
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