Ratings Roundup: U.S. Utility Rating Activity Was Mixed In A Quiet First Quarter Apr 07
Standard & Poors, April 2007
Abstract
Ratings activity in the U.S. investor-owned utility industry was relatively quiet during the first quarter of 2007. Since the year began, Standard & Poor's Ratings Services raised the corporate credit ratings of seven holding companies and operating subsidiaries (three of which related to a single entity, Progress Energy Inc. and its units) and lowered three corporate credit ratings, all related to TXU Corp. (see chart 1). The past three months witnessed few, but mixed, CreditWatch placements and outlook revisions. The few CreditWatch listings and outlook revisions can be traced to event risk, such as mergers and acquisitions and the sale of noncore operations. The principal drivers of the upside rating activity were improving financial conditions, which were largely due to...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Carolina Power & Light Co. d/b/a Progress Energy Carolinas Inc.
- Central Illinois Light Co.
- Ameren Illinois Co.
- Commonwealth Edison Co.
- Consumers Energy Co.
- Dayton Power & Light Co.
- Florida Power Corp. d/b/a Progress Energy Florida Inc.
- Illinois Power Co.
- Kansas City Power & Light Co.
- Kansas Gas & Electric Co.
- Westar Energy Inc.
- Kentucky Utilities Co.
- Panhandle Eastern Pipe Line Co LP
- Energy Future Holdings Corp.
- Energy Future Competitive Holdings Co.
- Black Hills Power Inc.
- DPL Inc.
- CMS Energy Corp.
- Golden State Water Co.
- LG&E and KU Energy LLC
- SEMCO Energy Inc.
- NRG Energy Inc.
- Ameren Corp.
- American States Water Co.
- GenOn Energy Holdings Inc.
- Progress Energy Inc.
- Great Plains Energy Inc.
- Black Hills Corp.
- Oncor Electric Delivery Co. LLC
- Texas Competitive Electric Holdings Co. LLC
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