Summary: FPL Group Capital Inc. Dec 02
- ID: 1820875
- December 2002
- Standard & Poors
The ratings for FPL Group Inc. and its affiliates incorporate a stable, regulated utility located in the growing Florida markets, increasing business risk due to the growing merchant energy portfolio, adequate credit protection measures coupled with high leverage relative to financial benchmarks, and significant capital needs. Concerns include the company's ability to secure construction financing for a portion of its merchant portfolio, the ability to meet forecasts that are more robust than the company's historic performance, and nonregulated subsidiary FPL Group Capital Inc.'s exposure to market risk because it is bringing merchant plants on line in a depressed market. Juno Beach, Fla.-based FPL Group has about $6.8 billion in outstanding debt. Subsidiaries include Florida Power & Light Co. (FPL) and...
Companies mentioned in this report are: NextEra Energy Capital Holdings, Inc.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >