ATLANTA - Standard & Poor's Corp. on Friday placed the debt of the Municipal Electric Authority of Georgia on CreditWatch with negative implications, citing the utility's inability to control the costs of its investment in generating plants.

The rating action, which does not involve any downgrades, comes as the power authority prepares this week to issue $442.5 million of revenue bonds in order to advance-refund $402.4 million of existing debt. The CreditWatch review covers both the upcoming issue and $4.35 billion of outstanding bonds.

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