S&P cuts USEC

Standard & Poor's said it lowered its corporate credit rating on USEC Inc. to B- from B+ as well as its senior unsecured rating on USEC's 6.75% senior notes due 2009 to CCC from B-.

The outlook is negative.

S&P said that this rating action follows the issuance of a license by the U.S. Nuclear Regulatory Commission to Louisiana Energy Services authorizing the construction and operation of a uranium-enrichment facility in the United States.

The ratings on USEC reflect its uncompetitive position, limited cash flow generating ability, aggressive competition and single-site operating facility, S&P noted, adding that the ratings also reflect stable industry demand.

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