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Allegheny Energy Supply: A Formidable Competitive Generator Mar 00
Standard & Poors, March 2000
Abstract
On March 17, Standard & Poor's assigned its A+/Stable/A-1 corporate credit rating to Allegheny Energy Supply Co. LLC (AE Supply), the newly established unregulated generating subsidiary of Allegheny Energy Inc. (A+/Stable/A-1). This is the first rating to be assigned to a company that was formed as a separate subsidiary to own and operate the formerly regulated generation capacity of a utility. Credit quality of this high caliber, however, is not likely to be characteristic of the many new such generating company subsidiaries that are being formed throughout the industry. There are several reasons for this. First, no regulatory mechanisms or structural barriers exist in Allegheny Energy's five-state service territory that sufficiently insulate any subsidiary from Allegheny Energy for Standard &...
Companies mentioned in this report are: Allegheny Energy Inc.,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 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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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