We are placing FPL Group on CreditWatch with negative implications; Regulatory risk for utility subsidiary Florida Power&Light has increased; and Greater risk at the utility could affect corporate strategy, further pressuring credit quality. NEW YORK (Standard&Poor's) Jan. 14, 2010--Standard&Poor's Ratings Services placed the 'A' corporate credit ratings and all other ratings on FPL Group Inc. and subsidiaries on CreditWatch with negative implications based on this week's decision by the Florida Public Service Commission (FPSC) to drastically cut a requested base rate increase and discontinue a credit-enhancing rate mechanism for generating plant additions for FPL subsidiary Florida Power&Light Co. (FP&L). The lower-than-expected revenues combined with continued economic sluggishness in the state are likely
