On Dec. 13, 2004, Standard&Poor's Ratings Services affirmed its 'BB-' long-term and 'B' short-term corporate credit ratings on DPL Inc. and its regulated subsidiary, Dayton Power&Light Co. (DP&L), and removed the ratings from CreditWatch with negative implications where they were placed on March 16, 2004. At the same time, Standard&Poor's affirmed all its other ratings on DPL and DP&L, including its 'BBB-' rating on DP&L's first mortgage bonds. The outlook is stable. Dayton, Ohio-based DPL had about $2.0 billion of debt outstanding as of Sept. 30, 2004. The rating action follows the company's filing with the SEC its overdue audited financial statements for its 2003 10-K and its first, second, and third quarter 2004
