Moody’s Investors Service downgraded the long-term debt ratings of Peoples Energy Corp. of Chicago and its utility subsidiaries, citing the continuing decline in profitability of its core gas distribution business (LDCs) and its increased focus on riskier gas exploration and production.
Chicago
Articles from Chicago
In Wake of Nymex-CME Electronic Trading Deal, ICE Vows to Remain Competitive
With news last week that the New York Mercantile Exchange (Nymex) had teamed with the Chicago Mercantile Exchange (CME) in an electronic energy trading venture, the IntercontinentalExchange (ICE), which arguably stands the most to lose from the deal, said Friday that it will continue to expand its energy offerings.
April 11, 2006
Cash Losses Continue at Nearly Every Point
A few enigmatic gains and a mostly flat Chicago citygate notwithstanding, prices kept falling at all other points Wednesday in response to pressure from mild weather fundamentals and the screen’s second dollar-plus plunge in three trading days Tuesday.
December 29, 2005
CB&I Wins Contract to Build Storage Tanks for Canada’s First LNG Terminal
Chicago Bridge & Iron Co. (CB&I) said Tuesday it was awarded a contract valued at more than $100 million for the design and construction of storage tanks for Canada’s first liquefied natural gas (LNG) import terminal.
August 24, 2005
El Paso Sells Tech Center for $140M
El Paso Corp. said Tuesday that it has sold its Lakeside Technology Center in Chicago to Digital Realty Trust Inc., which resulted in $140 million in cash at closing. The deal also offers the potential of additional payments to El Paso based on future rental opportunities and other considerations.
June 1, 2005
Peoples Energy Cuts Workforce by About 410 to Reduce Costs
Chicago-based Peoples Energy last Monday said it has cut its workforce by approximately 410 employees in order to shrink the company’s labor-related costs.
September 27, 2004
Peoples Energy Cuts Workforce by About 410 to Reduce Costs
Chicago-based Peoples Energy on Monday said it has cut its workforce by approximately 410 employees in order to shrink the company’s labor-related costs.
September 21, 2004
Dynegy Negotiating IP Sale to Exelon
Dynegy Inc. confirmed Friday it is engaged in exclusive discussions with Chicago-based Exelon Corp. to possibly sell Illinois Power Co. (IP). The utility is the Houston-based company’s regulated business segment, which sells natural gas and electricity to Illinois customers.
November 24, 2003
Dynegy Negotiating Ilinois Power Sale to Exelon
Dynegy Inc. confirmed Friday it is engaged in exclusive discussions with Chicago-based Exelon Corp. to possibly sell Illinois Power Co. (IP). The utility is the Houston-based company’s regulated business segment, which sells natural gas and electricity to Illinois customers.
September 29, 2003
CUB to Appeal Ruling Rejecting Fine Against Nicor
A Chicago-based watchdog group signaled last week it plans to appeal a regulatory law decision that rejected its claim for a $27 million fine against Nicor Inc.’s affiliate Nicor Gas for allegedly withholding information about profits generated by a controversial gas-purchase program.
May 12, 2003
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