Fitch Rates Duquesne Light Holding's Planned $320MM Senior Unsecured Notes 'BBB-'.NEW YORK -- Fitch Ratings has assigned a 'BBB-'rating to Duquesne Light Holdings, Inc.'s (DLH DLH Deutsche Lufthansa (German passenger and cargo airlines.) DLH Domestic Long Hair (cat) DLH Direct Labor Hours DLH Duluth, MN, USA - Duluth International Airport (Airport Code) ) planned $320 million issuance of senior unsecured notes. Proceeds will be used to repay a $250 million inter-company loan from Duquesne Light Company (DLC; senior implied unsecured rated 'BBB-', with a Positive Outlook) and for general corporate purposes. The Rating Outlook for DLH is Stable. Fitch recently affirmed the ratings of Duquesne Light Holdings on April 14, 2005. For more details, please see the press release dated the same day, available on the Fitch Ratings web site at www.fitchratings.com. DLH is an energy holding company engaged in regulated and unregulated businesses. More than 90% of its earnings before interest, taxes, depreciation, and amortization Earnings before interest, taxes, depreciation, and amortization (EBITDA) A financial measure defined as revenues less cost of goods sold and selling, general, and administrative expenses. (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) is derived from DLC, its largest subsidiary, a regulated electric utility that provides electric transmission, distribution and supply service (through its provicer of last resort (POLR POLR Provider of Last Resort POLR Path of Least Resistance POLR Pokemon Online Revolution ) obligation) to approximately 588,000 customers in southwest Pennsylvania (primarily Pittsburgh). Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion