<PAGE> 1
File No. 70-9499
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------------------------------------
Amendment No. 4
To
FORM U-1
DECLARATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
--------------------------------------------
Conectiv
Atlantic City Electric Company
Delmarva Power & Light Company
800 King Street
Wilmington, DE 19899
--------------------------------------------
(Name of company filing this statement
and address of principal executive offices)
Conectiv
--------------------------------------------
(Name of top registered holding company parent)
Philip S. Reese
Vice President and Treasurer
Conectiv
(address above)
--------------------------------------------
(Name and address of agent of service)
The Commission is requested to send copies of all notices, orders and
communications in connection with this Application to:
Peter F. Clark, Esquire Joyce Koria Hayes, Esquire
General Counsel 7 Graham Court
Conectiv Newark, DE 19711
(address above)
<PAGE> 2
Item 1. Description of Proposed Transactions
(a) Furnish a reasonably detailed and precise description of the proposed
transaction, including a statement of the reason why it is desired to consummate
the transaction and the anticipated effect thereof. If the transaction is part
of a general program, describe the program and its relation to the proposed
transaction.
The application as previously filed is amended to add the following information
under Item 1:
Conectiv continues to be in stable financial condition. Both Standard
and Poor's and Moody's continue to rate Conectiv's unsecured debt
investment grade:
Agency Conectiv Delmarva ACE
------ -------- -------- ---
Moody's Baa1 A3 Baa1
S & P BBB+/Stable/A-2 A-/Stable/A-1 BBB+/Stable/A-2
As of March 31, 2000, Conectiv had cash and cash equivalents of
approximately $81 million and access to additional cash through the
Company's credit facilities. After the payment of the First Quarter
2000 Dividend and the Second Quarter 2000 Dividend of $24 million each,
Conectiv will continue to have more than sufficient cash to meet the
operating needs of its operating utility companies. Conectiv expects
that earnings and normal cash flow will be available during future
quarters. Each quarterly dividend is projected to represent
approximately 2% of Conectiv's capital surplus.
SIGNATURE
Pursuant to the requirements of the Act, the undersigned companies have
duly caused this amended Application to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: April 19, 2000
Conectiv
By: /s/ Philip S. Reese
Vice President and Treasurer
Atlantic City Electric Company
By /s/ Philip S. Reese
Vice President and Treasurer
Delmarva Power & Light Company
By: /s/ Philip S. Reese
Vice President and Treasurer
2
