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Viewing report
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Monongahela Power Co. Aug 11
Standard & Poors, Aug 2011
Abstract
Parent's fleet of low-cost, baseload power generation plants in Ohio and Pennsylvania; Relatively low-risk transmission and distribution (T&D) operations at parent; Generally constructive regulatory relationships; Good free cash flow generation and liquidity; and Stable financial profile. Commitment to credit quality is uncertain; A business strategy at the parent that exposes financial results to greater market risk; Parent's nuclear fleet's uneven historical operating performance; and Future environmental expenditures are not assured recovery. Standard & Poor's Ratings Services bases the corporate credit rating on Monongahela Power Co. on a consolidated analysis of its parent, FirstEnergy Corp. The parent company's transformation from an integrated electric utility holding company to a model that encompasses regulated electric T&D operations and unregulated merchant electric generation and...
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.
Research Type: Full Analysis
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