NEW YORK (Standard&Poor's) Sept. 9, 2002--Standard&Poor's Ratings Services today assigned its triple-'B'-plus rating to Dominion Resources Inc.'s (DRI; BBB+/Stable/A-2) $520 million series C senior notes due 2012. DRI expects to use the net proceeds from the issue to replace its series 2000D and 2000F remarketable notes due 2012. "The ratings on Virginia-based electricity provider DRI and its Consolidated Natural Gas Co. (CNG; BBB+/Stable/A-2) wholly owned subsidiary reflect the consolidated credit quality of DRI," noted Standard&Poor's credit analyst Manuel E. Borrajo. The higher corporate credit rating assigned to Virginia Electric&Power Co. (VP; A/Stable/A-1), another Dominion subsidiary, is supported by that utility's adequate credit protection measures on a stand-alone basis combined with statutory insulation
