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Bulletin: Progress Energy Ratings Not Affected By Settlement Agreement Jan 12

  • ID: 2042882
  • January 2012
  • Standard & Poors
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FEATURED COMPANIES

  • Duke Energy Florida, LLC
  • Progress Energy Inc.
  • MORE

Abstract
NEW YORK (Standard & Poor's) Jan. 23, 2012--Standard & Poor's Ratings Services said today that the settlement agreement filed by Florida Power Corp. d/b/a Progress Energy Florida Inc. (PEF) (BBB+/Watch Pos/A-2) with the Florida Public Service Commission (FPSC) is mostly neutral and does not affect current ratings for PEF or its parent, Progress Energy Inc. (BBB+/Watch Pos/A-2). The settlement agreement, if approved by the FPSC, provides PEF with an effective framework to move forward by reducing uncertainty over the next four years as the company endeavors to bring Crystal River 3 back on line amid a still slow local economy and as it completes the proposed merger with Duke Energy....

Companies mentioned in this report are:
- Progress Energy Inc.
- Duke Energy Florida, LLC

Action: Bulletin

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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- Progress Energy Inc.
- Duke Energy Florida, LLC

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