Research Update: DPL Inc. And DP&L Downgraded To 'BB-' On Persistent Weak Financial Measures And Coal Retirements; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: DPL Inc. And DP&L Downgraded To 'BB-' On Persistent Weak Financial Measures And Coal Retirements; Outlook Negative

Research Update: DPL Inc. And DP&L Downgraded To 'BB-' On Persistent Weak Financial Measures And Coal Retirements; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: DPL Inc. And DP&L Downgraded To 'BB-' On Persistent Weak Financial Measures And Coal Retirements; Outlook Negative
Published Mar 27, 2017
9 pages (3127 words) — Published Mar 27, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S.–based DPL Inc.'s utility company, Dayton Power&Light Co. (DP&L), recently announced its decision to close certain merchant generating assets on or before June 1, 2018. The company has also agreed to a six-year Electric Security Plan (ESP) settlement proposal that includes the collection of distribution modernization rider (DMR) revenues for years one through three of the term of the ESP. We are lowering our issuer credit ratings on both parent DPL and utility subsidiary DP&L to 'BB-' from 'BB'. The outlook is negative. We are lowering our rating on DPL's senior unsecured debt to 'B+' from 'BB' and revising the recovery rating on this debt to '5' from '4' based on deteriorating value of the merchant power assets

  
Brief Excerpt:

...U.S.¡based DPL Inc.'s utility company, Dayton Power & Light Co. (DP&L), recently announced its decision to close certain merchant generating assets on or before June 1, 2018. The company has also agreed to a six-year Electric Security Plan (ESP) settlement proposal that includes the collection of distribution modernization rider (DMR) revenues for years one through three of the term of the ESP....

  
Report Type:

Research Update

Ticker
DPL
Issuer
DPL Inc.
GICS
Electric Utilities (55101010)
Sector
Global Issuers , Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: DPL Inc. And DP&L Downgraded To 'BB-' On Persistent Weak Financial Measures And Coal Retirements; Outlook Negative" Mar 27, 2017. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-DPL-Inc-And-DP-L-Downgraded-To-BB-On-Persistent-Weak-Financial-Measures-And-Coal-Retirements-Outlook-Negative-1821317>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: DPL Inc. And DP&L Downgraded To 'BB-' On Persistent Weak Financial Measures And Coal Retirements; Outlook Negative Mar 27, 2017. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-DPL-Inc-And-DP-L-Downgraded-To-BB-On-Persistent-Weak-Financial-Measures-And-Coal-Retirements-Outlook-Negative-1821317>
  
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