Public power stays strong & Cinergy shines in corporate governance

摘要

Talk with executives from the public power segment of the industry, and you'll hear a story very different from that of most investor-owned utilities (IOUs). Ask them how things are going, and you're likely to hear, "Very well, thank you." They've weathered the financial storm over the last two years, remaining fairly unscathed when compared to IOUs. According to Standard & Poor's (S&P), during 2002, out of 197 rated entities, there were 14 downgrades, representing about 7 percent. However, there were 12 upgrades in the same period―almost a wash. IOUs didn't fare as well. They were buffeted with 182 downgrades and only 15 upgrades.