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AmerenEnergy Generating Co. Dec 10
Standard & Poors, Dec 2010
Abstract
Near-term improved financial measures; Affiliation with Ameren's mostly regulated electric and gas businesses; and Consistent implementation of its three-year hedging policy Ameren Corp.'s economic incentive to support AmerenEnergy Generation Co. may wane during the next 18 months if the power market continues to decline or additionally mandated environmental costs become too onerous; and Higher-risk operations and less dependable cash flows from Ameren's merchant generation business. The ratings on AmerenEnergy Generating Co. (GenCo.) reflect Ameren Corp.'s (Ameren) consolidated credit profile. The ratings also reflect GenCo.'s fair business risk profile and Ameren's consolidated significant financial risk profile. Ameren's subsidiaries include rate regulated utilities Ameren Illinois and Ameren Missouri, and merchant energy company GenCo. As of Sept. 30, 2010, Ameren had about $7.7...
Companies mentioned in this report are: AmerenEnergy Generating Co.,Ameren Illinois Co.,Ameren Corp.
Action: Review
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: Full Analysis
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