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Allegheny Energy Supply Co. LLC Jan 06
Standard & Poors, Jan 2006
Abstract
Valuable coal-based generation assets and Stable revenues generated by contracts with regulated affiliates. Below-market generation price caps in Pennsylvania, Rising cost of compliance coal, and Below-average operational performance. The rating on electric utility Allegheny Energy Supply Co. LLC (AE Supply) reflects the consolidated credit profile of its parent, Allegheny Energy Inc. (Allegheny), whose credit quality is determined in conjunction with that of the unregulated AE Supply and regulated utility subsidiaries Monongahela Power Co., Potomac Edison Co., and West Penn Power Co. The rating on consolidated Allegheny reflects the company's progress in restoring its credit profile after the previous management's unsuccessful expansion into trading activities. The company has sold most of its trading portfolio and less profitable operations, and now operates...
Companies mentioned in this report are: Allegheny Energy Supply Co. LLC,Allegheny Energy Inc.,Monongahela Power Co.,Potomac Edison Co.,West Penn Power Co.,Allegheny Generating Co.
Action: Review
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: Full Analysis
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