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Bulletin: Potential Rate Freeze For Ameren Units Could Lead To Downgrade; No Immediate Effect On Rating Mar 07
Standard & Poors, March 2007
Abstract
NEW YORK (Standard & Poor's) March 9, 2007--The Illinois Senate Environment and Energy Committee has passed SB1592, which targets solely Ameren Corp.'s (BBB/Watch Neg/A-3) three Illinois Utilities, Illinois Power Co. (BBB-/Watch Neg/--), Central Illinois Public Service Co. (BBB-/Watch Neg/--), and Central Illinois Light Co. (BBB-/Watch Neg/--). The bill would roll back and freeze electric rates at 2006 levels for Ameren's Illinois customers for at least six months. This measure would result in a significant revenue shortfall and materially affect the liquidity of Ameren's Illinois utilities. There is no effect on the ratings on the company at this time. If the bill is passed by the full Senate, Standard & Poor's would immediately lower the issuer credit ratings on the Illinois...
Companies mentioned in this report are: Ameren Corp.,Central Illinois Light Co.,Ameren Illinois Co.,Illinois Power Co.
Action: Bulletin
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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