Standard & Poor’s Cuts Dynegy Credit Rating

Dynegy Inc.’s credit rating was cut by Standard & Poor’s Corp. to one notch above junk, a day after the energy company disclosed plans to cut its dividend in half and sell assets to raise cash.

Standard & Poor’s lowered its rating to BBB-minus from BBB and said the outlook on Dynegy’s debt remained negative. Shares of Houston-based Dynegy fell 73 cents to $6.67 on the NYSE.