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S&P elevates DPL, unit
S&P said it raised the issuer credit ratings on DPL Inc. (DPL) and subsidiary Dayton Power & Light Co. (DP&L) to BBB- from BB.
S&P said it is removing the ratings from CreditWatch, where the agency placed them with positive implications on Dec. 20. The outlook on both entities is stable.
At the same time, S&P said it raised its issue-level rating on DPL's senior unsecured debt to BBB- from BB and the issue-level rating on DP&L's senior secured debt to BBB+ from BBB.
S&P is removing the debt ratings from CreditWatch, where S&P placed them with positive implications on Dec. 20.
“The ratings upgrade follows DPL's announcement that it has closed on the sale of its merchant generation and related assets, including the Tait, Montpelier, Yankee, Hutchings, Monument, and Sidney generating stations, totaling about 973 megawatts (MW) of merchant generation,” S&P said in a news release.
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