Moody's Investors Service said Thursday it may downgrade the
ratings on about $14 billion in debt held by FirstEnergy Corp.
Moody's said it does not expect FirstEnergy's senior unsecured
debt rating, now Baa2, or two levels above junk status, to fall
below investment grade.
Weaker than expected financial performance, the ongoing
Davis-Besse nuclear plant outage, high debt levels and more prompted
the debt review.
FirstEnergy remains committed to maintaining an investment grade
rating, spokeswoman Kristen Baird said. The company will continue to
aggressively pay down debt and improve its finances, she