NEW YORK (Standard&Poor's) March 19, 2002--Standard&Poor's today assigned its triple-'B'-plus rating to Dominion Resources Inc.'s (BBB+/Stable/A-2) $300 million equity income securities. Each corporate unit will initially consist of a purchase contract for newly issued shares of Dominion Resources's common stock, to be exercised by 2006 and $50 in the principal amount of Dominion Resources' unsecured senior notes due 2008. The rating on the corporate units is based on the senior notes that serve as collateral and are issued by Virginia-based Dominion Resources. The outlook is stable. "Standard&Poor's rating analysis gives credit to common equity that will be issued in the future, whether via mandatory conversion or a contractual-deferred sale," noted Standard&Poor's credit
