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Allegheny Energy Inc., Subsidiaries Placed On Watch Negative After IPO Withdrawal Feb 02
Standard & Poors, Feb 2002
Abstract
NEW YORK (Standard & Poor's) Feb. 19, 2002--Standard & Poor's said today it placed its ratings of Allegheny Energy Inc. and its regulated subsidiaries, West Penn Power Co., Monongahela Power Co., and The Potomac Edison Co. on CreditWatch with negative implications following the company's SEC filing to withdraw the IPO of its generation subsidiary, Allegheny Energy Supply Co. LLC. In addition, Standard & Poor's said it placed Allegheny Energy Supply Co. LLC and Allegheny Generating Co., on CreditWatch with positive implications. 'The CreditWatch listings reflect the significantly revised strategy that Allegheny Energy recently announced regarding its planned IPO of Allegheny Energy Supply,' said credit analyst Tobias Hsieh. 'This decision is likely to have ratings consequences on some or all of...
Companies mentioned in this report are: Allegheny Energy Inc.,Monongahela Power Co.,Potomac Edison Co.,West Penn Power Co.,Allegheny Energy Supply Co. LLC
Action: S&P Event
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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