The Florida Public Service Commission takes issue with the way that three U.S. credit rating agencies classify certain bonds issued on behalf of two power companies that operate in the state.  

On Wednesday, the utility regulator filed a complaint with the European Securities and Markets Authority, which requires rating agencies to add an “sf” modifier to ratings for certain kinds of transactions.  It wants the EU regulator to instruct Standard & Poor’s, Moody’s Investors Service and Fitch Ratings to stop using the two-letter modifier for bonds backed by special fees that Florida Power & Light and Duke Energy Florida charge their customers.

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