Dominion Res Sr Debt Affd `BBB+', CP `F2' by Fitch IBCA.NEW YORK--(BUSINESS WIRE)--Dec. 17, 1999-- Dominion Resources, Inc.'s (DRI See Digital Research. ) senior unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. and commercial paper ratings are affirmed at `BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. +' and `F2', respectively by Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals . In addition, the credit ratings of DRI's electric utility subsidiary, Virginia Electric & Power Co., are affirmed as follows: --First mortgage bonds at `A+'; --Senior unsecured notes at `A', --Preferred securities and junior subordinated debentures at `A-`; and --Commercial paper at `F1'. The DRI ratings are removed from RatingAlert-Evolving where they were placed on May 14, 1999. The affirmation reflects Fitch IBCA's assessment of DRI's financing plan for the pending $6.4 billion acquisition of Consolidated Natural Gas Co. (senior debt `A'; CP `F1'). Full story to follow. |
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