We downgraded FPL Group Inc. (FPL) and subsidiaries to 'A-' from 'A' based on greater regulatory risk at utility subsidiary Florida Power&Light (FP&L) and growing investments in unregulated assets under subsidiary FPL Group Capital. We removed the ratings from CreditWatch negative. The outlook is stable. We affirmed the 'A' ratings on Florida Power&Light's first mortgage bonds. The deteriorated business risk profile is now 'strong' instead of 'excellent'. The financial risk profile remains 'intermediate' and should remain robust enough to support the new ratings if the company remains disciplined in its pursuit of growth at merchant energy producer and marketer NextEra Energy Resources. NEW YORK (Standard&Poor's) March 11, 2010--Standard&Poor's Ratings Services lowered its
