Home Credit Ratings and Research S&P Global Ratings’ Credit Research DPL Inc.

Summary: DPL Inc.

Published May 02, 2013

About This Report

Abstract:

Increased retail competition Growing unregulated business Regulated transmission and distribution (T&D) business that offsets unregulated business High debt leverage Deteriorating profit margins Adequate liquidity Stable cash flows from (T&D) business The stable rating outlook on DPL Inc. reflects Standard&Poor's Ratings Services' baseline forecast that consolidated adjusted funds from operations (FFO) to debt will be about 8% to 10% over the next 12 to 18 months. Significant risks to the forecast include increasing competition from lower electricity prices that could materially lower DPL's profit margins and a weaker economy than we currently expect. We could lower the ratings if FFO to debt were consistently lower than 8% or the business risk profile weakened as a result of the disproportionate

Report Type:

Summary

Ticker

DPL

Issuer

DPL Inc.

GICS

Electric Utilities (55101010)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

DPL Inc. 'BB' Corporate Credit And Senior Unsecured Debt Ratings Affirmed; Recovery Rating Revised To '3' – 2014/05/02 – US$ 150.00

Research Update: DPL Inc. 'BB' Corporate Credit And Senior Unsecured Debt Ratings Affirmed; Recovery Rating Revised To '3' – 2014/05/02 – US$ 225.00

DPL Inc.'s $200 Million Proposed Senior Unsecured Notes Rated 'BB' (Recovery Rating: '3') – 2014/09/23 – US$ 150.00

Bulletin: DPL Inc.'s Ratings Are Unaffected By Asset Sale – 2016/01/07 – Free

DPL Inc. And Dayton Power&Light 'BB' Ratings Placed On CreditWatch Negative – 2016/06/27 – US$ 150.00

DPL Inc. Issue-Level Rating Raised To 'BB'; Recovery Rating Revised To '4' – 2013/04/30 – US$ 150.00

S&PCORRECT: DPL Inc., Dayton Power&Light Rtgs Lwrd Two Notches, To 'BB' From 'BBB-'; Debt Rtgs Also Cut; Otlk Stable – 2012/11/09 – US$ 150.00

Research Update: S&PCORRECT: DPL Inc., Dayton Power&Light Co. Lowered To 'BB' From 'BBB-'; Debt Ratings Also Cut; Otlk Stable – 2012/11/08 – US$ 225.00

Summary: DPL Inc. – 2012/08/09 – US$ 225.00

DPL Inc. – 2012/05/09 – US$ 500.00

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MLA:	S&P Global Ratings’ Credit Research. "Summary: DPL Inc." May 02, 2013. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-DPL-Inc-1125750>

APA:	S&P Global Ratings’ Credit Research. (). Summary: DPL Inc. May 02, 2013. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-DPL-Inc-1125750>

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