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Allegheny Energy Supply Co. Senior Unsecured Rating Raised To 'BBB-' From 'BB+' Jun 08
Standard & Poors, June 2008
Abstract
NEW YORK (Standard & Poor's) June 5, 2008--Standard & Poor's Ratings Services raised its senior unsecured ratings on energy supply company Allegheny Energy Supply Co. LLC (Allegheny Supply) to 'BBB-' from 'BB+' to reflect its claim to the asset base that is no longer significantly disadvantaged with respect to secured debt at the company, resulting in the elimination of the one-notch differential between the corporate credit rating and the unsecured debt rating. At the same time, Standard & Poor's affirmed the 'BBB-' corporate credit rating on Allegheny Supply. The affirmation follows the conclusion of our annual review. The outlook is stable. While Allegheny Supply had almost $2.0 billion of debt as of March 31, 2008, parent Allegheny Energy Inc.'s consolidated...
Companies mentioned in this report are: Allegheny Energy Supply Co. LLC
Action: Affirmed
Action: Upgraded
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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