Assure

“I don’t think there’s a [budget] number big enough” to provide the Securities and Exchange Commission (SEC) with all of the resources it would need to review every quarterly filing of every publicly traded company with a fine-tooth comb, said Chairman Harvey Pitt during a House Financial Services subcommittee hearing Monday.

The credit rating service Standard & Poor’s said Thursday that its ratings for Dynegy Inc., which stand at BBB+/A2, and its subsidiaries will remain on Credit Watch with negative implications, reflecting what it called “several obstacles” facing the Houston-based energy trader. “Foremost is the uncertainty surrounding the pending lawsuit filed by Enron Corp. that alleges that Dynegy falsely executed its right to terminate the merger. Standard & Poor’s cannot at this time determine the outcome of such litigation.”

Washington Gas Light Co. has asked FERC to schedule a formalhearing to assure it and other potential distribution customersthat the liquefied natural gas (LNG) to be imported by Williams’Cove Point LNG facility in Lusby, MD, will be pipeline-quality gas.