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
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Research type: News
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