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Bulletin: FPL Group Unit's $998 Million Nuclear Power Plant Acquisition Does Not Affect Rating Dec 06 Product Image

Bulletin: FPL Group Unit's $998 Million Nuclear Power Plant Acquisition Does Not Affect Rating Dec 06

  • Published: December 2006
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Dec. 20, 2006--Standard & Poor's Rating Services said today that FPL Energy LLC's announcement that it will purchase the 1,033 MW Point Beach nuclear plant from Wisconsin Electric Power Co. (WEPCO; A-/Negative/A-2) for $998 million ($996/kW) does not immediately affect the ratings on FPL Group Capital Inc. (A/Stable/A-1), FPL Energy's parent, or FPL Group Inc. (A/Stable/--), which owns FPL Group Capital. The acquisition will increase FPL Energy's nuclear capacity by 70% to 2,523 MW (net) and the share of nuclear capacity to 18% of its total capacity from about 11%. Partially offsetting this increase in nuclear risk exposure will be a long-term contract to sell all Point Beach generation back to WEPCO through plant license...

Companies mentioned in this report are:
- NextEra Energy Inc.
- NextEra Energy Capital Holdings 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 READ MORE >

- NextEra Energy Inc.
- NextEra Energy Capital Holdings Inc.

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