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Business Strategies May Affect U.S. Diversified Energy Cos. on Ratings Threshold, S&P Says Jun 04
Standard & Poors, June 2004
Abstract
NEW YORK (Standard & Poor's) June 3, 2004--The success of back-to-basics and development strategies could help determine whether a handful of U.S. diversified energy companies make the transition between investment-grade and speculative-grade ratings, credit analysts said on June 2, 2004, at Standard & Poor's Ratings Services' 2004 Utility Credit Conference in New York. Credit analysts discussed TECO Energy Inc., FirstEnergy Corp., Black Hills Corp., and Westar Energy Inc. Florida-based TECO Energy (BBB-/Negative/A-3), an investment-grade company that is retrenching from its merchant power strategy, has returned to a back-to-basics strategy by cutting dividends and returning to a utility focus, Standard & Poor's credit analyst Todd A. Shipman said during a panel discussion. 'Still, our upcoming company review will focus on recent...
Companies mentioned in this report are: Westar Energy Inc.,TECO Energy Inc.,FirstEnergy Corp.,Black Hills Corp.
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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