S&P: FirstEnergy Nuclear Generation LLC And First Energy Generation LLC Unsecured Debt Ratings Corrected To 'BB-' (RR: '3')
The rating error occurred on Aug. 1, 2016, when we lowered the corporate credits rating on FirstEnergy Solutions Corp. to 'BB-' from 'BBB-'. At the same time, we had lowered all senior secured issue-level ratings on debt at affiliates FirstEnergy Nuclear Generation LLC and FirstEnergy Generation LLC to 'BB+' with a '1' recovery and all senior unsecured issue-level ratings at these subsidiaries to 'BB-' with a '3' recovery.
We incorrectly published the issue-level ratings on the tranches listed below as 'BB+' with a '1' recovery rating. These tranches are senior unsecured obligations not senior secured obligations and are therefore rated 'BB-' with a '3' recovery rating.