Moody’s assigns negative outlooks to Cinergy and subsidiaries

Moody’s has taken this action in response to (1) Cinergy’s recent announcement that it will purchase two peaking plants from Enron; (2) its recent announcement that it and its two principal operating companies, The Cincinnati Gas & Electric Company and PSI Energy, Inc., reached an agreement in principal with the U.S. Environmental Protection Agency; and (3) the continuing uncertainty surrounding CG&E’s post-deregulation corporate and financial structure.

Jan. 22, 2001—With California’s power troubles mounting, President George W. Bush Monday moved quickly to name avowed free market advocate Curtis L. Hebert Jr. chairman of the Federal Energy Regulatory Commission, replacing William Massey, a last minute Clinton Administration appointee.

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