8-KRegulation FDExhibits & Filings

FIRSTENERGY CORP 8-K Report, Regulation FD Disclosure (Apr 20, 2007)

Filed April 20, 2007For Securities:FE

Summary

This Form 8-K filing by FirstEnergy Corp. (FE) on April 20, 2007, primarily serves to disclose important credit ratings for its wholly owned subsidiary, FirstEnergy Solutions Corp. (FES), and to furnish FES's 2006 Annual Report as an exhibit. FES, which provides energy-related products and services and operates FirstEnergy's non-nuclear and nuclear generating facilities, received a corporate credit rating of BBB from Standard & Poor's on March 26, 2007, and an issuer rating of Baa2 from Moody's Investor Service on March 27, 2007. The inclusion of the FES 2006 Annual Report, containing audited consolidated financial statements for the three years ended December 31, 2006, provides investors with detailed financial information regarding this significant operating segment. While the report itself is extensive, this 8-K filing highlights these credit rating actions and the availability of the annual report as key pieces of information for stakeholders.

Key Highlights

  • 1FirstEnergy Solutions Corp. (FES), a subsidiary of FirstEnergy Corp., received a BBB corporate credit rating from Standard & Poor's on March 26, 2007.
  • 2FES was assigned an issuer rating of Baa2 by Moody's Investor Service on March 27, 2007.
  • 3The 8-K filing includes FirstEnergy Solutions Corp.'s 2006 Annual Report as an exhibit (Exhibit 99.1).
  • 4The furnished 2006 Annual Report contains audited consolidated financial statements for the three years ended December 31, 2006.
  • 5FES operates FirstEnergy's non-nuclear and nuclear generating facilities and provides energy-related products and services.
  • 6The filing provides a standard "Forward-Looking Statements" section outlining potential risks and uncertainties impacting FirstEnergy's business.

Frequently Asked Questions

FirstEnergy Solutions Corp. (FES) is a wholly owned subsidiary of FirstEnergy Corp. (FE). FES is responsible for providing energy-related products and services primarily in Ohio, Pennsylvania, Michigan, and Maryland. Through its subsidiaries, FES also owns and operates FirstEnergy's non-nuclear and nuclear generating facilities.

This filing discloses that on March 26, 2007, Standard & Poor's assigned FES a corporate credit rating of BBB. Subsequently, on March 27, 2007, Moody's Investor Service assigned FES an issuer rating of Baa2.

FirstEnergy is furnishing the FES 2006 Annual Report, including its audited consolidated financial statements for the three years ended December 31, 2006, as an exhibit to this Form 8-K. This is done in anticipation of possible future public dissemination, providing investors with detailed financial information about this key subsidiary.

The filing includes a standard 'Forward-Looking Statements' section that outlines various risks and uncertainties. These include, but are not limited to, competition and deregulation in the electric utility industry, economic or weather conditions, changes in energy markets and commodity prices, replacement power costs, maintenance costs, legislative and regulatory changes (including environmental requirements and EPACT implementation), adverse legal or regulatory decisions, the ability to operate generating units at full capacity, and the successful completion of strategic initiatives and capital expenditures.