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Ameren Announces AES Corp. Asset Acquisitions Worth $1.4 Billion; CreditWatch Actions Follow Apr 02
Standard & Poors, April 2002
Abstract
NEW YORK (Standard & Poor's) April 29, 2002--Following today's announcement by utility holding company Ameren Corp. that it has reached a definitive agreement with The AES Corp. to acquire CILCORP Inc. and its subsidiaries, Standard & Poor's placed its ratings of Ameren (A+/A-1) and subsidiaries Union Electric Co. and Central Illinois Public Service Co. on CreditWatch with negative implications. Ameren's nonregulated generating subsidiary AmerenEnergy Generating Co. was placed on CreditWatch with positive implications. At the same time, Standard & Poor's changed the CreditWatch implications on its ratings of AES' subsidiary CILCORP and subsidiary Central Illinois Light Co. (CILCO) to positive from developing. St. Louis, Mo.-based Ameren has about $3.5 billion in outstanding debt. 'The acquisition, which also includes AES' Medina...
Companies mentioned in this report are: Ameren Corp.,Central Illinois Light Co.,Ameren Illinois Co.,Ameren Missouri,CILCORP Inc.,The AES Corp.,AmerenEnergy Generating Co.
Action: Various Rating Actions
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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