NEW YORK (Standard&Poor's CreditWire) Dec. 16, 1999--Standard&Poor's today lowered the corporate credit rating on Dominion Resources Inc. (DRI) to triple-'B'-plus from single-'A'-minus and its preferred stock rating to triple-'B'-minus from triple-'B' (see list below). Standard&Poor's affirmed the company's 'A-2' short-term corporate credit and commercial paper rating. At the same time, Standard&Poor's affirmed its ratings on Virginia Electric&Power Co. (VP) and affiliate (see list below). In addition, Standard&Poor's lowered the ratings on Consolidated Natural Gas Co. (CNG), which will become a wholly owned subsidiary of DRI upon closing of the merger (see list below). The long-term ratings for Dominion Resources and the all the ratings for Virginia Electric&
