On Nov. 2, 2006, Standard&Poor's Ratings Services affirmed its 'BBB' corporate credit rating on Dominion Resources Inc. and revised its outlook on the company to positive from stable. The rating action follows Dominion's announcement that it proposes to sell a majority of its exploration and production (E&P) assets. Richmond, Va.-based Dominion had about $18.7 billion of debt, including off-balance-sheet obligations, as of Sept. 30, 2006. The rating action on Dominion reflects management's stated intention to use sale proceeds in a manner that would maintain credit measures, with some proceeds to retire debt even while reducing business risk. Dominion's business risk profile is '7' (weak) (business profiles are categorized from '1' (excellent) to '10' (vulnerable)). Over the past 18
