NEW YORK (Standard&Poor's) Aug. 16, 2004--The announcement by FPL Group Inc. (A/Negative/--) of a settlement to the change in control shareholder lawsuit is favorable for corporate governance but is neutral to the company's rating. The proposed settlement includes a partial repayment of the bonuses made to company executives triggered by shareholder approval of a merger with Entergy Corp. in 2000. The merger was called off in April 2001. In addition to the $22 million cash payment to the company, the board has altered the corporate governance procedures and, as stipulated by the settlement agreement, will put into place additional changes. Among the 10 changes that were implemented over the past three years, modifications were made to the change
