S&P places NV Energy on positive watch

Standard & Poor's said it placed the BBB- corporate credit ratings on NV Energy Inc., Nevada Power Co. and Sierra Pacific Power Co. on CreditWatch with positive implications.

The agency also said it placed the BBB+ senior secured ratings on Nevada Power and Sierra Pacific Power and the BB+ senior unsecured rating on NV Energy on CreditWatch with positive implications.

The CreditWatch placement reflects an expectation that MidAmerican Energy Holdings Co., which is more highly rated, will maintain credit quality consistent with its current ratings following the acquisition, the agency said.

The acquiring company has significant scale and operating expertise to support this expectation and is likely to retain NV Energy management, which is credit supportive due to management's recent efforts in improving regulatory relationships and key credit measures, S&P said.

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