FirstEnergy Solutions downgraded on bankruptcy expectation, FE parent seen as stable

Standard & Poor's has further lowered its ratings for bonds sold by FirstEnergy Solutions, the unregulated FirstEnergy subsidy which owns the corporation's power plants, because it expects FES to file for bankruptcy protection. At the same time S&P has revised its outlook for parent company FirstEnergy and its regulated subsidiaries from negative to stable on expectations FirstEnergy will one way or another get out of the power plant business.