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Baltimore Gas & Electric Ratings Lowered, Off Watch; Outlook Stable Mar 02
Standard & Poors, March 2002
Abstract
NEW YORK (Standard & Poor's) March 18, 2002-Standard & Poor's said today it lowered its ratings on utility Baltimore Gas & Electric Co. (BGE; corporate credit rating to single-'A'-minus from single-'A'-plus) and removed them from CreditWatch, where they were placed with negative implications on Oct. 26, 2001. The outlook is stable. BGE, a wholly owned subsidiary of Constellation Energy Group Inc. (CEG), is a regulated utility that is exclusively engaged in the retail distribution of electricity and gas following the restructuring of Maryland's energy markets. The rating reflects: -- BGE's projections that operating cash flows will provide the capacity to significantly reduce an initially heavy debt burden in a relatively short time frame; -- The benefits of a stable customer...
Companies mentioned in this report are: Baltimore Gas & Electric Co.,Constellation Energy Group Inc.,Allegheny Energy Supply Co. LLC
Action: Downgraded, Off CreditWatch
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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