On Sept. 27, 2005, Standard&Poor's Ratings Services assigned its 'BBB+' ratings to Dominion Resources Inc.'s $1 billion floating rate senior notes due 2007. The proceeds will be used for general corporate purposes, including repayment of short-term debt. The notes will also provide additional liquidity that may be needed in the aftermath of Hurricane Rita. The outlook remains negative. Richmond, Va.-based Dominion had about $19.2 billion of debt (including hybrids and imputed debt equivalents) as of June 30, 2005. The ratings on Dominion reflect its utility subsidiaries' cash flow stability and supportive regulatory environment, combined with riskier oil and gas exploration operations and a growing portfolio of unregulated power generation. In nearly all of its businesses, Dominion faces a
