S&P: Reliant Energy view stable

Standard & Poor's said it revised its outlook on the corporate credit ratings on Reliant Energy Inc. and two of its wholly owned subsidiaries, Reliant Energy Mid-Atlantic Power Holdings LLC and Orion Power Holdings Inc., to stable from negative.

At the same time, S&P affirmed its B corporate credit ratings on the three entities.

S&P said the rating action follows S&P's continuing analysis of the financial consequences for Reliant following the criminal indictment of the company on April 8 for alleged market manipulation practices in 2000. Upon further analysis, S&P said it believes that any monetary penalties and potentially adverse business outcomes likely would not pressure the current rating.

In addition, Reliant has taken several steps to stabilize its financial profile by reducing both financial leverage and operating costs.

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