Research Update: DPL Inc. And Subsidiary DP&L Outlooks Revised To Stable From Negative Following Ohio Regulatory Order; Ratings Affirmed

U.S.-based Dayton Power&Light Co. (DP&L) recently received an order from the Public Utilities Commission of Ohio (PUCO), implementing its third Electric Security Plan (ESP). The ESP plan includes the collection of distribution modernization rider (DMR) revenues for years one through three of the term of the ESP, with the opportunity to extend the DMR for an additional two years. We are revising our outlook on parent company DPL Inc. (DPL) and subsidiary DP&L to stable from negative. At the same time, we are affirming our ratings on DPL, including our 'BB-' issuer credit rating and the 'BB-' rating on DPL's senior unsecured debt. The '4' recovery rating on the debt is unchanged. We are also affirming our ratings

...U.S.-based Dayton Power & Light Co. (DP&L) recently received an order from the Public Utilities Commission of Ohio (PUCO), implementing its third Electric Security Plan (ESP). The ESP plan includes the collection of distribution modernization rider (DMR) revenues for years one through three of the term of the ESP, with the opportunity to extend the DMR for an additional two years....

Research Update