DPL Credit Ratings Affirmed by Standard & Poor's.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--May 9, 2001 The credit ratings of DPL (Digital PowerLine) An earlier technology for transmitting a 1 Mbps data signal over electric power lines from Nortel Networks. It was developed in the late 1990s, but later abandoned due to implementation difficulties. See broadband over power lines. Inc. (NYSE NYSE See: New York Stock Exchange :DPL) and its affiliates, The Dayton Power and Light Company (DP&L) and Dayton Ventures Inc., were recently affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. by Standard & Poor's (S&P) and removed from CreditWatch with developing implications. S&P said that the outlook for DPL and DP&L is stable. Standard & Poor's rating action follows DPL's plans announced in February 2001 to independently pursue its high-growth strategy. DPL's growth strategy is driven by its merchant generation business and supported by its electric transmission and distribution business as well as its diversified portfolio of financial assets Financial assets Claims on real assets. . To date, DPL has added 474 megawatts (MW) of peaking capacity to its base generation and is set to add an additional 544 MW of peaking capacity by June 2001. These additions, which bring total capacity to more than 4,000 MW, are expected to be immediately accretive to earnings. Most recently, DPL announced strong first quarter earnings of $0.52 per share, an increase of 37% from one year ago before non-recurring items and share dilution. This increase was driven by DPL's regional merchant generation and operational efficiencies. DPL Inc. is a diversified regional merchant energy company. DPL's principal subsidiaries include DPL Energy and The Dayton Power & Light Company. DPL Energy operates 3,500 megawatts of generation capacity and markets wholesale energy throughout the eastern half of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . DP&L provides electric services to 500,000 retail customers in West Central Ohio. DPL Inc., through its subsidiaries, has ranked among the top ten energy companies in generation efficiency and productivity for the last ten years. Further information on DPL Inc. can be found at www.dplinc.com. This press release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding plans and expectations for the future. Investors are cautioned that actual outcomes may vary materially from those projected due to various factors beyond DPL's control. Such matters are described in the Company's 2000 Annual Report and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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