Ratings On Two Dayton Power & Light Co.-Related Joint-Supported Bond Issues Placed On CreditWatch Negative Apr 11
- ID: 1714910
- April 2011
- Standard & Poors
NEW YORK (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services today placed its 'AAA/A-1+' ratings on two joint-supported bond issues related to Dayton Power & Light Co. on CreditWatch with negative implications (see list). The long-term components of our ratings on the bonds are based on our long-term issuer credit ratings on, as well as the joint support provided by, JPMorgan Chase Bank N.A. ('AA-'), the letter of credit (LOC) provider, and Dayton Power & Light Co. ('A-/Watch Neg'), the obligor, assuming a low correlation level between the LOC provider and obligor. The long-term components of our ratings address full and timely payments of interest and principal when the bondholders have not exercised the put option. The short-term...
Companies mentioned in this report are:
- Ohio Air Qlty Dev Auth
- Dayton Power & Light Co.
Action: On CreditWatch:Negative
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Research type: News
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