FirstEnergy Corp. And Subsidiary Ratings Placed On CreditWatch Negative On Potential Implication In Ohio Bribery Case - S&P Global Ratings’ Credit Research

FirstEnergy Corp. And Subsidiary Ratings Placed On CreditWatch Negative On Potential Implication In Ohio Bribery Case

FirstEnergy Corp. And Subsidiary Ratings Placed On CreditWatch Negative On Potential Implication In Ohio Bribery Case - S&P Global Ratings’ Credit Research
FirstEnergy Corp. And Subsidiary Ratings Placed On CreditWatch Negative On Potential Implication In Ohio Bribery Case
Published Jul 23, 2020
3 pages (1505 words) — Published Jul 23, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

The U.S. government has filed a criminal complaint against the Speaker of the Ohio House of Representatives and four associates for participating in an approximately $60 million racketeering scheme. The complaint alleges that the participants were bribed from March 2017-March 2020 in exchange for help in passing House Bill 6. FirstEnergy Corp. is not named as a defendant in this criminal complaint. House Bill 6 was enacted during 2019 and established support for nuclear energy supply in Ohio and a decoupling mechanism for Ohio electric utilities. We are placing our ratings on FirstEnergy Corp. and its subsidiaries on CreditWatch with negative implications. The CreditWatch placement reflects the increased probability that we will lower our issuer credit rating on the companies

  
Report Type:

Ratings Action

Ticker
FE
Issuer
FirstEnergy Corp.
GICS
Electric Utilities (55101010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "FirstEnergy Corp. And Subsidiary Ratings Placed On CreditWatch Negative On Potential Implication In Ohio Bribery Case" Jul 23, 2020. Alacra Store. May 17, 2024. <http://www.alacrastore.com/s-and-p-credit-research/FirstEnergy-Corp-And-Subsidiary-Ratings-Placed-On-CreditWatch-Negative-On-Potential-Implication-In-Ohio-Bribery-Case-2483643>
  
APA:
S&P Global Ratings’ Credit Research. (). FirstEnergy Corp. And Subsidiary Ratings Placed On CreditWatch Negative On Potential Implication In Ohio Bribery Case Jul 23, 2020. New York, NY: Alacra Store. Retrieved May 17, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/FirstEnergy-Corp-And-Subsidiary-Ratings-Placed-On-CreditWatch-Negative-On-Potential-Implication-In-Ohio-Bribery-Case-2483643>
  
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