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Ameren Corp. Jun 07
Standard & Poors, June 2007
Abstract
Relatively low-cost producer with competitive rates, Bulk of operating income comes from regulated operations, Contained exposure to potential Illinois subsidiaries' bankruptcy. Political and regulatory uncertainty regarding power cost recovery in Illinois, Challenging regulatory relationships in Missouri, Investment in unregulated generation business and intermediate exposure to market risk, Inherent operating and financial challenges of owning a nuclear unit, Tighter environmental standards facing coal-fired facilities. The ratings on St. Louis, Mo.-based electric and gas utility holding company Ameren Corp. and its subsidiaries are on CreditWatch with negative implications. Ameren's units include utility subsidiaries Union Electric Co., Central Illinois Public Service Co. (CIPS), Central Illinois Light Co. (CILCO), and Illinois Power Co. Ameren's units also include unregulated Ameren Energy Generating Co. (AEGC), CILCORP...
Companies mentioned in this report are: Ameren Corp.,Central Illinois Light Co.,Ameren Illinois Co.,Illinois Power Co.,Ameren Missouri,CILCORP Inc.,AmerenEnergy Generating Co.
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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