Bulletin: FirstEnergy Corp.'s Termination Of Its Vice President For Regulatory Affairs Is Incrementally Credit Negative - S&P Global Ratings’ Credit Research

Bulletin: FirstEnergy Corp.'s Termination Of Its Vice President For Regulatory Affairs Is Incrementally Credit Negative

Bulletin: FirstEnergy Corp.'s Termination Of Its Vice President For Regulatory Affairs Is Incrementally Credit Negative - S&P Global Ratings’ Credit Research
Bulletin: FirstEnergy Corp.'s Termination Of Its Vice President For Regulatory Affairs Is Incrementally Credit Negative
Published May 28, 2021
3 pages (1295 words) — Published May 28, 2021
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Abstract:

NEW YORK (S&P Global Ratings) May 28, 2021--S&P Global Ratings today said that FirstEnergy Corp.'s (BB/Watch Neg/--) termination of Eileen Mikkelsen, its vice president for rates and regulatory affairs and acting vice president for external affairs, is incrementally credit negative and further highlights the company's governance and cultural weaknesses under its former CEO. FirstEnergy stated that Ms. Mikkelsen's separation was related to her inaction regarding the 2015 amendment of a previously disclosed consulting agreement between FirstEnergy and an entity associated with an individual, who in 2019 was appointed to a full-time role as an Ohio government official directly involved in regulating the company's Ohio electric utility subsidiaries (Ohio Edison Co., The Cleveland Electric Illuminating Co., and The Toledo Edison Co.),

  
Report Type:

Bulletin

Ticker
FE
Issuer
FirstEnergy Corp.
GICS
Electric Utilities (55101010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: FirstEnergy Corp.'s Termination Of Its Vice President For Regulatory Affairs Is Incrementally Credit Negative" May 28, 2021. Alacra Store. May 02, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-FirstEnergy-Corp-s-Termination-Of-Its-Vice-President-For-Regulatory-Affairs-Is-Incrementally-Credit-Negative-2657080>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: FirstEnergy Corp.'s Termination Of Its Vice President For Regulatory Affairs Is Incrementally Credit Negative May 28, 2021. New York, NY: Alacra Store. Retrieved May 02, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-FirstEnergy-Corp-s-Termination-Of-Its-Vice-President-For-Regulatory-Affairs-Is-Incrementally-Credit-Negative-2657080>
  
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