On Nov. 14, 2005, Standard&Poor's Ratings Services assigned its 'A-' senior unsecured debt rating to FPL Group Capital Inc.'s (A/Negative/A-1) proposed $506 million senior unsecured notes. The outlook is negative. The ratings on FPL Group Capital reflect the consolidated credit profile of its parent, FPL Group Inc. (A/Negative/--), a diversified energy company based in Juno Beach, Fla. FPL Group Capital is the holding company for the unregulated operations. As of Sept. 30, 2005, FPL Group had $9.7 billion of debt. The notes are a remarketing of up to $506 million of notes issued in June 2002 in connection with FPL Group Capital's issuance of 10.12 million equity units. The notes will mature on Feb. 16, 2008. All of
