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Ratings On Two Dayton Power & Light Co.-Related Joint-Supported Bond Issues Placed On CreditWatch Negative Apr 11 Product Image

Ratings On Two Dayton Power & Light Co.-Related Joint-Supported Bond Issues Placed On CreditWatch Negative Apr 11

  • ID: 1714910
  • April 2011
  • Standard & Poors

FEATURED COMPANIES

  • Dayton Power & Light Co.
  • Ohio Air Qlty Dev Auth
  • MORE

Abstract
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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Ohio Air Qlty Dev Auth
- Dayton Power & Light Co.

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