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AmerenEnergy Generating Co.'s Senior Notes Rated 'BBB+' May 02
Standard & Poors, May 2002
Abstract
NEW YORK (Standard & Poor's) May 30, 2002--Standard & Poor's today assigned its rating of triple-'BBB'-plus to AmerenEnergy Generating Co.'s (AEGC) $275 million senior notes due 2032. Proceeds from the notes will be used primarily to permanently finance generating capacity additions. AEGC is the wholly owned, unregulated generation subsidiary of St. Louis, Mo. -based Ameren Corp., which is also the parent of regulated utility companies Union Electric Co. and Central Illinois Public Service Co. (CIPS), as well as other unregulated units. AEGC has about $424 million of outstanding long-term seniordebt. The ratings on AEGC are on CreditWatch with positive implications reflecting Ameren's definitive agreement with The AES Corp. to acquire CILCORP Inc. for $1.4 billion. This includes the assumption at...
Companies mentioned in this report are: AmerenEnergy Generating Co.,Ameren Illinois Co.,Ameren Missouri,CILCORP Inc.,The AES Corp.,Ameren Corp.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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