S&P: FirstEnergy financial risk ‘aggressive’

Standard & Poor’s said it affirmed the BBB- corporate credit and senior unsecured ratings on FirstEnergy Solutions Corp. and revised its financial risk profile descriptor to “aggressive” from “significant,” to reflect weaker financial measures.

The stand-alone credit profile of BB is unchanged, S&P said.

The company’s funds from operations-to-debt ratio has declined because of milder weather, continued lower natural gas prices and the company’s downward revision in projected retail sales, the agency said.

FirstEnergy Solutions is considered a core subsidiary of parent, FirstEnergy Corp., S&P said. Its ratings continue to be influenced by the ratings on FirstEnergy, the agency said.

© 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.