Bulletin: Rate Case Delay May Affect Ratings On FPL Group Inc., Progress Energy Inc. And Subsidiaries Oct 09

Standard & Poors, October 2009

Abstract
NEW YORK (Standard & Poor's) Oct. 27, 2009--Standard & Poor's Ratings Services today said that the Florida Public Service Commission's (FPSC) decision to delay the completion of Florida Power & Light Co.'s (FP&L; A/Stable/A-1) and Florida Power Corp. d/b/a Progress Energy Florida Inc.'s (BBB+/Stable/A-2) pending base rate cases into 2010 could potentially harm the credit quality of the utilities and the ratings of parent companies FPL Group Inc. (A/Stable/--) and Progress Energy Inc. (BBB+/Stable/A-2) and their subsidiaries. However, we believe that any rating or outlook revisions now would be premature. The FPSC action implies a reconstituted commission in 2010 may accommodate the heightened political atmosphere that has developed around the cases. Standard & Poor's will analyze the final rate decisions...

Companies mentioned in this report are: NextEra Energy Inc.,Florida Power & Light Co.,Florida Power Corp. d/b/a Progress Energy Florida Inc.,NextEra Energy Capital Holdings, Inc.,Progress Energy Inc.
Action: Bulletin

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.

NextEra Energy Inc.,Florida Power & Light Co.,Florida Power Corp. d/b/a Progress Energy Florida Inc.,NextEra Energy Capital Holdings, Inc.,Progress Energy Inc.

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