NEW YORK (Standard&Poor's) Feb. 14, 2005--Standard&Poor's Ratings Services said today that it affirmed its 'BB-/B' corporate credit ratings on utility holding company DPL Inc. and utility affiliate Dayton Power&Light Co. and placed the ratings on CreditWatch with positive implications. The rating action is in response DPL's announcement that it has entered into an agreement to sell the company's interest in 46 private equity funds to a joint venture of AlpInvest Partners and Lexington Partners Inc. Dayton, Ohio-based DPL had about $2 billion of debt outstanding as of Dec. 31, 2004. "The sale of its higher-risk investment portfolio of private equity funds would improve the company's overall business risk profile and should also provide the
