Summary: TECO Energy Inc. Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services' ratings on TECO Energy Inc. reflect the company's ongoing commitment to improving its credit quality by shedding some of its unregulated businesses, restoring its balance sheet, and focusing on better financial performance through regulatory initiatives and cost controls amid less-attractive economic conditions. The company's business profile is excellent and financial risk profile is significant. (For more information, see "Business Risk/Financial Risk Matrix Expanded," published on May 27, 2009, on RatingsDirect.) TECO's business strategy centers on the operations of its high-quality electric and gas utilities in historically high-growth areas of Florida. The utilities manage regulatory risk effectively, as demonstrated by base-rate decisions in 2009 that provide a solid earnings and cash flow base. Continued exposure to...

Companies mentioned in this report are: TECO Energy Inc.,Tampa Electric Co.
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.

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.

TECO Energy Inc.,Tampa Electric Co.

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