NEW YORK (Standard&Poor's) Sept. 23, 2014--Standard&Poor's Ratings Services today assigned its 'BB' issue-level rating and '3' recovery rating to Ohio-based DPL Inc.'s proposed $200 million of senior unsecured notes due 2019. The '3' recovery rating denotes prospects for meaningful (50% to 70%) recovery in the event of a payment default. The company will use the proceeds together with cash on hand and/or the proceeds of other short-term borrowings, to finance its tender offer for up to $280 million of its outstanding $450 million 6.5% senior notes due 2016. We expect the net effect to be approximately an $80 million reduction of consolidated debt. Because the transaction does not materially affect DPL Inc.'s financial measures, the corporate
