Standard&Poor's Ratings Services today noted that FPL Group Inc. (A/Watch Neg/--) announced that they will indefinitely suspend all greenfield fossil-fired projects under development and will take a charge related to the restructuring of their wholesale energy and telecommunications businesses. Standard&Poor's believes that this action is neutral to credit quality. The suspended plants were in various stages of development, ranging from two to four years from completion. The capital costs and operating revenues associated with the cancelled plants were not factored into the current rating. Credit concerns remain over the merchant generation facilities currently under construction. These four plants, totaling approximately 3600 MW, will be completed and are projected to be operational over the next one and
