S&P: Progress unchanged

Standard & Poor's said that the ratings on Progress Energy Florida Inc. and its parent Progress Energy Inc. (BBB+/watch positive/A-2) are not immediately affected by the announcement that Progress Energy Florida is experiencing further delays in returning its Crystal River 3 nuclear power plant to service.

The additional delays are to assess indications of further delamination of the containment building resulting from the existing repair work, the agency said.

Although the delays have no immediate effect on the credit quality of Progress Energy Florida or Progress Energy, timely and full recovery of the remaining and additional repair and replacement power costs will be very important in continuing to support the standalone and consolidated credit profiles, the agency added.

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