NEW YORK (Standard&Poor's) June 2, 2003--Standard&Poor's Ratings Services said today that the terms of Dominion Resources Inc.'s (BBB+/Stable/A-2) new $1.45 billion 364-day revolver facility, established May 29, 2003, does not affect the ratings or outlook on the company. The new facility employs a pricing that links the interest rate on the revolver to the average asset swap spread on pre-defined benchmark bond issues (the most liquid bonds) of Dominion Resources, Virginia Electric&Power Co. (A-/Stable/A-2), and Consolidated Natural Gas Co. (BBB+/Stable/A-2). While the floor is set under a traditional rating-based pricing grid, the cap (or ceiling) price is significantly higher than the floor at about 200 basis points for 'BBB' rating levels. Should Dominion draw
