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BULLETIN: Illinois Regulators Approve Ameren Corp.'s $1.4 Bil Purchase of CILCORP Dec 02 Product Image

BULLETIN: Illinois Regulators Approve Ameren Corp.'s $1.4 Bil Purchase of CILCORP Dec 02

  • Published: December 2002
  • Region: Illinois
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services noted today that the Illinois Commerce Commission has approved Ameren Corp.'s (A+/Watch Neg/A-1) $1.4 billion acquisition of CILCORP Inc. (BBB-/Watch Pos/--), the parent company of primary subsidiary Central Illinois Light Co. (CILCO, BBB-/Watch Pos/--) from AES Corp. (B+/Watch Neg/--). Ameren is awaiting approval from the Securities and Exchange Commission and the Department of Justice to buy CILCORP. The transaction is expected to close in the first quarter of 2003. The likely corporate credit ratings for Ameren and all subsidiaries, including CILCORP and CILCO, are expected to be in the low 'A' rating category when the deal is consummated....

Companies mentioned in this report are: Ameren Corp.,Central Illinois Light Co.,CILCORP Inc.,AES Corp. (The)
Action: S&P Event

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, READ MORE >

Ameren Corp.,Central Illinois Light Co.,CILCORP Inc.,AES Corp. (The)

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