S&P: Vectren unchanged

Standard & Poor's said its ratings and outlook on Vectren Corp. (A-/stable) are unaffected by the downward revision in earnings guidance for the second quarter and fiscal 2008.

The revision is attributed to a projected second quarter loss at ProLiance Energy LLC (not rated), the agency said, noting that ProLiance is a joint venture between Vectren and Citizens Gas & Coke to optimize gas storage and pipeline transportation capacity owned or controlled by the partners.

During the first half of 2008, the marketing segment's earnings are lower than expected due to unfavorable market conditions that have reduced business opportunities in the sector, S&P noted.

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