CHICAGO - Citing a "skittish" short-term fund market, American Municipal Power-Ohio Inc. last week scaled back a planned $450 million one-year bond anticipation note sale, opting to sell only $120 million of the original issue and wait out the market in hopes of returning in a few months with a $500 million long-term, fixed-rate bond issue.

AMP-Ohio planned last Wednesday to sell $450 million in revenue bond anticipation notes to finance an ownership share in the Midwest's $3.7 billion Prairie State coal plant project. But after an afternoon pre-pricing call with underwriter JPMorgan showed more investor concerns than expected, officials opted to sell only $120 million of the original issue.

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