Rochester, NY 8/20/2009 12:06:02 AM
Dynegy Inc. DYN ,NEGATIVE OUTLOOK: S&P LOWERS DYNERGY
Dynegy Inc.
Dynegy Inc. is a holding company and conducts all of its business operations, through its subsidiaries. Engaged in the production and sale of electric energy, capacity and ancillary services from its fleet of 27 operating power plants in 13 states totaling nearly 18,000 megawatt of generating capacity.
Dynegy Holdings Inc.is the Company’s wholly owned subsidiary. The segments of the Company include the Midwest segment GEN-MW, the West segment GEN-WE and the Northeast segment GEN-NE. Dynegy sells electric energy, capacity and ancillary services on a wholesale basis from its power generation facilities.
Standard & Poor's Ratings Services that it lowered its ratings outlook for Dynegy Inc. 1.97, -0.03, -1.50% to negative from stable. S&P has a B corporate credit rating on the power provider. The outlook revision primarily reflects the impact of the merchant downturn that results in a financial profile for the next few years that is quite weak for the rating, even factoring in the recent cost-saving initiatives announced by Dynegy that remain to be achieved, said Swami Venkataraman, an S&P credit analyst, in a statement.
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