Louisville Gas & Electric Co. Feb 10

Standard & Poors, February 2010

Abstract
The implicit credit support provided by ultimate parent E.ON AG; Stable and relatively predictable utility operations and associated cash flows; Constructive regulatory environment in Kentucky; and Competitive rates and high customer satisfaction rankings in region. Little fuel diversity, virtually all coal-fired; Heavy construction program to meet environmental requirements and new generating capacity; and Rate relief needs during at time of unusual economic weakness. The ratings on Louisville Gas & Electric Co. (LG&E) are based primarily on parent E.ON U.S. LLC's consolidated credit profile. The ratings on E.ON U.S. reflect the credit profile of its two operating utilities in Kentucky--Louisville Gas & Electric Co. (BBB+/Stable/--) and Kentucky Utilities Co. (KU, BBB+/Stable/A-2)--and the company's focus on operating the fully integrated utilities. Implicit...

Companies mentioned in this report are:
- Louisville Gas & Electric Co.
- Kentucky Utilities Co.
- Western Power Distribution (East Midlands) PLC
- LG&E and KU Energy LLC
- E.ON U.K. PLC
- E.ON SE
- E.ON International Finance B.V.
- Powergen (East Midlands) Investments
- E.ON Energy Solutions Ltd.

Action: Review

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: Full Analysis

- Louisville Gas & Electric Co.
- Kentucky Utilities Co.
- Western Power Distribution (East Midlands) PLC
- LG&E and KU Energy LLC
- E.ON U.K. PLC
- E.ON SE
- E.ON International Finance B.V.
- Powergen (East Midlands) Investments
- E.ON Energy Solutions Ltd.

Customers who bought this item also bought

• Comparing councils: An alternative approach to segmenting the local government marketplace
• 2009 Public Sector - UK Key Corporate Changes
• Future of the UAE Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2017
• The UAE Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
• Marine Applications of Nuclear Power
• Military Microgrids Market Potential
• Stork B.V.: Defense Company Profile and SWOT Report
• eLEARNING - Global Strategic Business Report
• Aerospace and Defense Industry - Global Strategic Business Report
• Sensata Technologies Holding B.V. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report