S&P: TECO Energy unaffected

Standard & Poor's said Thursday that TECO Energy Inc.'s (BB/stable/--) decision to sell its interests in two merchant electric plants in Texas is favorable for credit quality but does not affect the rating on the company.

The recent review of TECO Energy that resulted in a rating downgrade anticipated the company's exit from the merchant energy business, so the sale of the Texas plants is consistent with S&P's understanding of the future direction of TECO Energy's business profile.

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