On Nov. 10, 2003, Standard&Poor's Ratings Services placed its 'BBB/A-2' corporate credit ratings on DPL Inc. and utility affiliate Dayton Power&Light Co. on CreditWatch with negative implications in response to the recent $70 million settlement charge related to lawsuits stemming from the composition of the firm's investment portfolio. In addition, cash contributions from utility affiliate Dayton Power&Light have waned throughout 2003 affecting debt balances and coverage measures. Standard&Poor's expects to complete a strategic review of DPL's corporate governance policy and overall financial condition by year-end 2003. Dayton, Ohio-based DPL had about $2.6 billion of total debt outstanding as of Sept. 30, 2003. The CreditWatch placement reflects the unanticipated $70 million charge to
