S&P: Dominion Resources Inc.'s $1.25 Billion Equity Units Rated 'BBB-'
The 'BBB-' rating on Richmond, Va.-based Dominion's $1.25 billion equity unit hybrid securities incorporate equity risk similar to preferred stock. Under our criteria, we notch the equity units two notches below our 'BBB+' issuer credit rating on Dominion.
Our issuer credit rating on Dominion is 'BBB+' and the outlook is stable. For the corporate credit rating rationale, see the research update on Dominion published on Feb. 1, 2016.
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