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Allegheny Energy Supply Is Restoring Its Credit Profile Feb 05 Product Image

Allegheny Energy Supply Is Restoring Its Credit Profile Feb 05

  • ID: 2048341
  • February 2005
  • Standard & Poors

Abstract
Allegheny Energy Inc., a midsize utility company in Greensburg, Pa., is in the process of restoring its credit profile after the previous management's unsuccessful expansion into merchant and trading activities. Standard & Poor's raised company's consolidated rating to 'B+' in August 2004 to reflect the company's progress in shedding business risk by selling its trading portfolio and paying down debt at its generation subsidiary, Allegheny Energy Supply Co. LLC, (AE Supply; B+/Positive/--) through equity issuance and asset sales. The rating could continue to improve as the company executes its plan to pay down $1.5 billion or more of debt between December 2003 and the end of 2005. Standard & Poor's estimates that most recently Allegheny has paid down about $280...

Companies mentioned in this report are: Ohio Valley Electric Corp.,Allegheny Energy Supply Co. LLC

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 READ MORE >

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Ohio Valley Electric Corp.,Allegheny Energy Supply Co. LLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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