NEW YORK (Standard&Poor's) Oct. 21, 2002-- Standard&Poor's Ratings Services today affirmed its triple-'B'-plus ratings on Richmond, Va.-based, integrated energy company Dominion Resources Inc., and its subsidiary Consolidated Natural Gas Co. At the same time, Standard&Poor's Ratings Services lowered the corporate credit rating on subsidiary Virginia Electric&Power Co. (VEPCO) to single-'A'-minus, from single-'A'. Ratings on VEPCO's short-term corporate credit rating, debt issues, and commercial paper ratings were also lowered. Dominion and its subsidiaries have about $13.5 billion of debt outstanding. The outlook is stable. "The downgrade of VEPCO is the result of a review by Standard&Poor's of regulatory insulation in Virginia," noted Standard&Poor's credit analyst Manuel E. Borrajo. Standard
