Metropolitan Edison Co. Mar 10
Standard & Poors, March 2010
Abstract
Parent's fleet of low-cost, baseload power generation plants in Ohio and Pennsylvania; Relatively low-risk transmission and distribution (T&D) operations; Generally constructive regulatory relationships; Good cash flow generation and liquidity; and Stable financial profile. Parent's commitment to credit quality is uncertain; Parent's business strategy that increasingly exposes financial results to greater market risk; Parent's nuclear fleet's uneven historical operating performance; and Future environmental expenditures at parent are not assured recovery. The ratings on Metropolitan Edison Co. (MetEd) are based on the consolidated credit profile of its parent, FirstEnergy Corp., a utility holding company. MetEd is an electric distribution utility wholly owned by FirstEnergy and fully regulated by the Pennsylvania Public Utility Commission. It provides electric distribution service to all customers in...
Action: Review
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Research Type: Full Analysis
- Metropolitan Edison Co.
- Cleveland Electric Illuminating Co.
- Jersey Central Power & Light Co.
- Ohio Edison Co.
- Pennsylvania Electric Co.
- Pennsylvania Power Co.
- Toledo Edison Co.
- CTC Beaver Valley Funding Corp.
- CTC Mansfield Funding Corp.
- PNPP II Funding Corp.
- Beaver Valley II Funding Corp.
- BVPS II Funding Corp.
- Penelec Capital
- Met-Ed Capital L.P.
- JC P&L Capital L.P.
- Ohio Edison Financing Trust
- Ohio Edison Financing Trust II
- FirstEnergy Corp.
- FirstEnergy Solutions Corp.
- American Transmission Systems Inc.
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