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Gold/Mining/Energy : Dynegy Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (68)	5/30/2002 10:47:09 AM
From: Softechie	Respond to of 208

*Dynegy (NYSE:DYN - News): Upgrades to 4 STARS [accumulate] from 3 STARS [hold] Analyst: Craig Shere Shares are up more than 7% on news that the company's chairman and CEO is stepping down. Led by interim chairman Glenn Tilton, who is also vice chairman of ChevronTexaco, S&P sees the new leadership making expeditious changes to shore up credit rating and investor confidence. A statement of support by ChevronTexaco also is encouraging. S&P now sees less than a 50% likelihood of a credit downgrade to "junk." At just 5.5 times S&P's recently lowered 2003 estimate of $1.80, Dynegy is among the cheapest in its space despite strong assets and backing of ChevronTexaco. S&P sees Dynegy among the leaders in an ultimate industry recovery.