Standard

In another sign that California’s two major utilities have recovered since the state’s energy crisis, Standard & Poor’s Ratings Services last Wednesday raised their respective credit ratings and declared their individual outlooks were “Stable.”

In another sign that California’s two major utilities have recovered since the state’s energy crisis, Standard & Poor’s Ratings Services Wednesday raised their respective credit ratings and declared their individual outlooks were “Stable.”

Royal Dutch Shell Group’s downward revisions to its proved oil and natural gas reserves has cost the producer its top credit rating from Standard & Poor’s Ratings Services (S&P). S&P estimated that proven reserves amounted to “only 12 billion boe,” or about eight-and-a-half years of production at Dec. 31, 2004, “a level significantly below that of most oil companies globally.”

Showing Wall Street appreciates steady-state natural gas utilities, Standard & Poor’s Ratings Services (S&P) Tuesday increased the credit rating of Portland, OR-based Northwest Natural Gas Co. to “A+” for both its corporate and senior secured debt ratings, and almost as high for its other ratings. All of the levels were raised and the outlook was designated as “stable,” S&P’s San Francisco analyst Swami Venkataraman said.

Duke Energy has successfully moderated its risk by winding down its merchant generation and trading activities, Standard & Poor’s Ratings Services said Wednesday in affirming the company’s corporate credit and issue ratings (‘BBB/A-2’) and those of its direct and indirect subsidiaries Duke Capital LLC, Texas Eastern Transmission L.P., PanEnergy Corp., Westcoast Energy Inc., and Union Gas Ltd. At the same time, the ratings agency revised the company’s outlook to positive from stable.

In what Standard & Poor’s (S&P) says will become more common among the large energy companies, Sempra Energy was the second firm subjected to an accounting analysis to adjust the company’s reported financial results to get what S&P considers a more accurate set of financial ratios to adjust or affirm companies’ true credit risk. In Sempra’s case, the ratings were unchanged, staying at “BBB+” and at the “A” level for its two major utilities.

In what Standard & Poor’s (S&P) says will become more common among the large energy companies, Sempra Energy was the second firm subjected to an accounting analysis to adjust the company’s reported financial results to get what S&P considers a more accurate set of financial ratios to adjust or affirm companies’ true credit risk. In Sempra’s case, the ratings were unchanged, staying at “BBB+” and at the “A” level for its two major utilities.

In what Standard & Poor’s (S&P) says will become more common among the large energy companies, Sempra Energy was the second firm subjected to an accounting analysis to adjust the company’s reported financial results to get what S&P considers a more accurate set of financial ratios to adjust or affirm companies’ true credit risk. In Sempra’s case, the ratings were unchanged, staying at “BBB+” and at the “A” level for its two major utilities.

Citing gains in the large customer retail business and potential market improvements in wholesale power, analysts at Standard & Poor’s Equity Research gave Constellation Energy Group two thumbs up last week despite the one thumb down the company has been getting from investors lately with its stock off 3.2% year to date as of June 18. CEG shares were trading around $38 on Friday, up from 52-week lows in May but still down from price levels at the beginning of the year.