NEW YORK (Standard&Poor's CreditWire) Jan. 2, 2001--Standard&Poor's today placed its ratings on DPL Inc. and its affiliate, Dayton Power&Light Co., on CreditWatch with developing implications (see list below). The rating action follows the announcement that the company is working with investment bankers to explore strategic options, including the possible sale of all or part of the company. The CreditWatch listing with developing implications indicates that the ratings on DPL and its affiliate could be raised, lowered, or affirmed. The ratings on DPL reflect the financial and business risk profile analysis of the consolidated enterprise, including utility subsidiary, Dayton Power&Light. DPL's credit quality reflects the expectation for improvement in its capital structure, investment
