S&P affirms Entergy

Standard & Poor's said it affirmed its BBB corporate credit ratings on Entergy Corp. and all its subsidiaries except Entergy New Orleans Inc., which remains at D and removed the ratings from CreditWatch with negative implications.

The outlook is negative.

The agency said that the ratings affirmation recognizes the increased probability that Entergy will recover a substantial portion of hurricane-related storm costs incurred in 2005.

Still, uncertainty exists regarding the ultimate level and timing of the recovery, which is reflected in the negative outlook, S&P noted.

The negative outlook also reflects increasing pressure on the consolidated company's business profile from regulatory challenges in several jurisdictions combined and a larger portion of assets being involved in nonregulated ventures such as the firm's recent announcement to purchase the Palisades nuclear plant from Consumers Energy Co., S&P added.

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