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Credit Rating Downgrade at Southern Union Could Relate to Enron Fallout.
Knight Ridder/Tribune Business News, May, 2002
By Jerry Lynott, The Times Leader, Wilkes-Barre, Pa. Knight Ridder/Tribune Business News
May 22--WILKES-BARRE, Pa. -- A downgrade in the credit rating of Southern Union Co. might be fallout from the Enron bankruptcy as the energy industry faces closer scrutiny, according to one analyst.
Fitch Ratings changed Southern's rating to BBB from BBB . The change might be attributed to the negative impact on the industry from Enron, said Gordon Howald, an analyst with Credit Lyonnais who follows Southern Union.
The bankruptcy and the related accounting scandal of the Houston energy trading company has people "concerned about energy companies overall," he said.
Howald explained the rating dip means it will cost the company more money to...
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