NEW YORK (Standard&Poor's) Jan. 10, 2006--Standard&Poor's Ratings Services said today that it assigned its 'BB' rating to electric utility company Nevada Power Co.'s $210 million general and refunding mortgage notes series M due 2016. The company will use the proceeds to repay amounts that were borrowed under a bank revolving credit facility to finance a portion of the purchase price for the 75% ownership interest in, and related costs of, the gas-fired combined cycle 570 MW Silverhawk power plant. The 'B+' corporate credit rating on Las Vegas, Nev.-based Nevada Power, a utility subsidiary of Sierra Pacific Resources, along with Sierra Pacific Power Co., reflects the consolidated credit quality of the three companies. The positive outlook on
