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Downward credit pressure continues on power industry. (News).(Brief Article)
New York -- Standard & Poors (S&P) predicted continued downward pressure on U.S. merchant generators and utilities in a release dated October 11. According to the agency, rating activity was overwhelmingly negative for U.S. utilities (electric, gas, pipeline, and water) during the third quarter of 2002, and several companies experienced numerous ratings downgrades. S&P noted 57 downgrades among holding companies and operating subsidiaries, compared with just eight upgrades (three of which relate to Natural Gas Co.) in the period from July 1 to September 30. For the same period in 2001, ...
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