Moody's ups DPL outlook to positive

Moody's Investors Service said it changed the outlooks of DPL Inc. (Baa2 senior unsecured), DPL Capital Trust II (Baa3 trust preferred) and Dayton Power and Light Co. (A2 senior secured/A3 issuer rating) to positive from stable.

The positive outlook considers DPL's low business risk profile and improving financial performance, with consolidated cash flow coverage ratios that are in excess of the guidelines for its current rating category as outlined in Moody's rating methodology for global regulated electric utilities.

According to the agency, these ratios include cash from operations pre-working capital plus interest to interest for DPL of 4.5x for the 12 months ended March 31, up from 3.6x in 2006 and cash from operations pre-working capital to debt of 21.4% for the 12 months ended March 31, up from 16.6% in 2006.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.