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AmerenEnergy Generating Co. May 08
Standard & Poors, May 2008
Abstract
A financially stronger parent; Relatively low-cost producer; and Minimal technology risk. Tighter environmental standards facing coal-fired facilities; Intermediate to long-term exposure to wholesale power price volatility; Limited geographic diversity; and Financial profile much weaker than that of parent Ameren. The ratings on AmerenEnergy Generating Co. (AEGC), the primary unregulated generation subsidiary of electric and gas utility holding company Ameren Corp., are based on the consolidated credit profile of the Ameren family of companies. Ameren's subsidiaries include utilities Union Electric Co., Central Illinois Public Service Co. (CIPS), Central Illinois Light Co. (CILCO), and Illinois Power Co., which account for roughly 55% of net income. Ameren's units also include unregulated AEGC, CILCORP Inc., the intermediate holding company of CILCO, and AmerenEnergy Resources...
Companies mentioned in this report are: AmerenEnergy Generating Co.,Central Illinois Light Co.,Ameren Illinois Co.,Illinois Power Co.,Ameren Missouri,CILCORP Inc.,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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