NEW YORK (Standard&Poor's) Oct. 26, 2006--Standard&Poor's Ratings Services affirmed its 'A' corporate credit ratings on diversified energy company FPL Group Inc., its regulated utility, Florida Power&Light Co. (FP&L), and FPL Group Capital Inc. and removed the ratings from CreditWatch with negative implications. The rating action follows the termination of merger discussions with Constellation Energy (BBB+/Negative/A-2). The outlook is stable. The ratings were originally placed on CreditWatch Dec. 19, 2005 after the announced merger with constellation. "The stable outlook on FPL Group reflects the predictable cash flow from FP&L, a favorable regulatory environment, and growing service territory," said Standard&Poor's credit analyst Jodi Hecht. Standard&Poor's also said that its concerns include the
