Research Update: S&PCORRECT: Ameren, Units Downgraded After Ill. Senate Passes Rate Freeze, Still On Watch Neg Apr 07
- ID: 1823085
- April 2007
- Standard & Poors
On April 23, 2007, Standard & Poor's Ratings Services lowered its long-term corporate credit ratings on utility holding company Ameren Corp. and subsidiaries Union Electric Co. and AmerenEnergy Generating Co. (AEGC) to 'BBB-' from 'BBB'. Standard & Poor's also lowered its long-term corporate credit rating on Ameren's Illinois subsidiaries, Illinois Power Co., Central Illinois Public Service Co., CILCORP Inc., and Central Illinois Light Co., to 'BB' from 'BBB-'. The first mortgage bonds for Ameren's Illinois utilities were lowered to 'BBB-' from 'BBB' except Illinois Power's first mortgage bonds, which were already rated 'BBB-'. The ratings on all the companies are still on CreditWatch with negative implications. St. Louis, Mo.-based Ameren had about $4.9 billion in consolidated outstanding long-term debt at...
Companies mentioned in this report are:
- Ameren Corp.
- Central Illinois Light Co.
- Ameren Illinois Co.
- Illinois Power Co.
- Union Electric Co. d/b/a Ameren Missouri
- CILCORP Inc.
- Illinois Power Generating Co.
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Product Type: Research Update
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