The ratings on West Penn Power Co., a subsidiary of Allegheny Energy Inc., reflect the company's strong business position and healthy financial measures. In late 1999, as a result of restructuring legislation in Pennsylvania, West Penn Power's generating assets were sold to Allegheny Energy's unregulated generation subsidiary, Allegheny Energy Supply Co. LLC (AE Supply). This transaction transformed West Penn Power into a relatively low-risk transmission and distribution utility that remains tightly regulated and has predictable capital spending requirements. West Penn Power's business profile is supported by an absence of commodity price risks, limited competitive threats, a reasonable regulatory environment, and improving economic conditions in its service area, partially offset by a heavy concentration of industrial customers. West Penn Power has
