S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable - S&P Global Ratings’ Credit Research

S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable

S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable - S&P Global Ratings’ Credit Research
S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable
Published Nov 09, 2012
1436 words — Published Nov 09, 2012
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Increased competition because of lower wholesale electricity prices will continue to materially reduce DPL's profit margins. We expect the unregulated retail business to grow because of the eventual transition to generation market rates. The company's financial position is stressed due to the substantial amount of acquisition debt at parent company AES. We are lowering our ratings on DPL Inc. and its wholly owned subsidiary, Dayton Power&Light (DP&L), including the corporate credit rating on both entities, to 'BB' from 'BBB-' and removed them from CreditWatch with negative implications. We are also lowering our issue ratings on DPL's senior unsecured debt to 'BB-' from 'BB+' and on DP&L's senior secured debt to 'BBB-' from 'BBB+' and removing them from CreditWatch

  
Brief Excerpt:

RESEARCH S&PCORRECT: DPL Inc., Dayton Power & Light Rtgs Lwrd Two Notches, To '##' From '###-'; Debt Rtgs Also Cut; Otlk Stable Publication date: 09-Nov-2012 Primary Credit Analyst: Matthew L O'Neill, New York (1) 212-438-4295; matthew_oneill@standardan...

  
Report Type:

Ratings Action

Ticker
DPL
Issuer
DPL Inc.
GICS
Electric Utilities (55101010)
Sector
Global Issuers , Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable" Nov 09, 2012. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-PCORRECT-DPL-Inc-Dayton-Power-Light-Rtgs-Lwrd-Two-Notches-To-BB-From-BBB-Debt-Rtgs-Also-Cut-Otlk-Stable-1033173>
  
APA:
S&P Global Ratings’ Credit Research. (). S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable Nov 09, 2012. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-PCORRECT-DPL-Inc-Dayton-Power-Light-Rtgs-Lwrd-Two-Notches-To-BB-From-BBB-Debt-Rtgs-Also-Cut-Otlk-Stable-1033173>
  
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