NEW YORK (Standard&Poor's) Aug. 22, 2001--Standard and Poor's today assigned its triple-'B'-rating to DPL Inc.'s proposed $400 million senior unsecured debt issue and its triple-'B'-minus rating to the $300 million trust-preferred securities being issued by DPL Capital Trust II and guaranteed by DPL. The transaction constitutes a refinancing of existing capital that was used for DPL's merchant generation expansion program. Management plans to use the proceeds to redeem the existing trust-preferred securities of DPL Capital Trust I at par ($550 million), and pay down $150 million in short-term debt. Both issues are registered 144A with registration rights. Coincident with this transaction, the triple-'BBB'-minus bank-loan rating for Dayton Ventures Inc. in the amount of $230 million which was collaterized
