Sorry, no link, just Bing it. Fitch Downgrades First Energy & Subsidiaries To BB+ from BBB- The Stable Outlook for Supply takes into consideration plans by FE management
to eventually merge Supply into FES. The companies will remain separate
entities for the near-to medium-term. However, FES and Supply are currently
managed operationally and financially as one entity (together FE Generation).
A rating upgrade at this juncture appears unlikely for FE and its
subsidiaries. A credit rating downgrade could be triggered by: lower than
expected margins and volumes at FES and Supply; continued deterioration at
JCP&L; and or an unexpected adverse operating event at one of FE's nuclear or
large coal-fired generating units.
EXE headed off their Fitch downgrade with a dividend cut. We'll see after this current div is paid next month. I'm also concerned about this mild summer affecting revenue. Seems like FE price has a lot of headwinds including 10yr bond pressure.