Tuesday, February 20, 2007

Duquesne on S&P's Credit Watch

Standard & Poor's Rating Services on Tuesday said its ratings of Duquesne Light Holdings Inc. and its subsidiary Duquesne Light Co. remain on CreditWatch with negative implication.

The ratings agency said the 'BBB', or lower medium grade, corporate credit ratings remains on watch for a possible downgrade, citing a settlement with the Pennsylvania Public Utility Commission over a pending $3.15 billion buyout. A consortium led by Macquarie Infrastructure Partners and Diversified Utility and Energy Trusts is seeking to buy Duquesne and its subsidiaries.