S&P lowers PPL Energy

Standard & Poor's said it lowered its long-term corporate credit rating on PPL Energy Supply LLC, a subsidiary of diversified energy company PPL Corp., to BB+ from BBB and lowered the short-term rating to A-3 from A-2.

The ratings were removed from CreditWatch, where they placed with negative implications on May 5, while the agency was determining the strategic importance of the company to the PPL Corp. group.

The outlook is stable.

"We now assess PPL Energy's stand-alone credit profile at 'bb' but still consider the company to be a moderately strategic subsidiary to the PPL group," S&P credit analyst Aneesh Prabhu said in a news release.

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