October 16, 2012 / 9:51 PM / 5 years ago

TEXT-S&P cuts FirstEnergy Solutions Corp bond rating

2 Min Read

Oct 12 - Standard & Poor's Ratings Services has lowered its ratings on
FirstEnergy Solutions Corp.'s remarketed bonds issued through Beaver County
Industrial Development Authority, to 'BBB-/NR' from 'AA+/A-1+'.

Standard & Poor's lowered the ratings on the remarketed bonds due to the 
cancellation of the letter of credit. The ratings are now based on FirstEnergy 
Solutions Corp., which is either directly responsible for the obligation or 
fully guarantees the obligations of its subsidiaries, FirstEnergy Generation 
Corp. and FirstEnergy Nuclear Generation Corp. For the corporate credit 
rationale on FirstEnergy Solutions Corp., see the summary analysis published 
on Sept. 19, 2012.

RELATED CRITERIA AND RESEARCH
     -- Analytical Methodology, April 15, 2008
     -- Business Risk/Financial Risk Matrix Expanded, May 27, 2009

RATINGS LIST

FirstEnergy Solutions Corp.
 Corporate credit rating                              BBB-/Stable/--

Downgraded
                                                      To        From
Beaver County Industrial Development Authority
$60 mil. series 2006-B rev. refunding bonds           BBB-/NR   AA+/A-1+

0 : 0
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