NEW YORK (Standard&Poor's) Sept. 3, 2008--Standard&Poor's Ratings Services said today that damage from Hurricane Gustav will not affect Cleco Corp.'s (BBB/Stable/--) credit ratings at this time. Cleco's system has experienced significant outages with about 90% of customers not having power, and has also experienced significant damage in its system, with 32 transmission lines and 14 substations out of service. The effect of the hurricane on Cleco's credit profile will depend on an assessment of the damage and restoration costs, the company's ability to restore service to customers on a timely basis, and the level of responsiveness from state authorities, including regulators. Cleco's liquidity position as of June 30, 2008 was adequate and consisted of $150 million
