The issuer credit rating on Dominion Resources Inc. reflects the group credit profile of 'A-', which is derived from: A country risk score that we consider "very low risk" because all operations are carried out in the U.S. An industry risk score that we consider "very low risk," reflecting the low risk nature of the regulated electric utility and natural gas distribution operations that constitute the bulk of Dominion's business activities. Dominion's "excellent" business risk profile and its "significant" financial risk profile. Primary subsidiary Virginia Electric&Power Co. (VEPCO), a vertically integrated and fully regulated utility, benefits from low regulatory risk, a better-than-average service territory, and the strategic focus of management Diminished unregulated operations have removed considerable business risk
