New York Gov. Mario M. Cuomo's proposed buyout of the Long Island Lighting Co. will not affect the state's general obligation rating. but it will have implications for the debt of two state power authorities. officials at the major credit rating agencies say.

Still. Wall Street bankers and credit analysts said they are skeptical that the proposed public buyout of Lilco. announced last week by Cuomo. will ever take place. particularly if the governor is not re-elected.

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