|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: FERC Approves Ameren Corp.'s Purchase of CILICORP Nov 02
Standard & Poors, Nov 2002
Abstract
Standard & Poor's Ratings Services noted today that the FERC 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/--) The FERC conditioned the transaction on the merged entity becoming part of the Midwest Independent Transmission Operator, which Ameren intends to join. Ameren is awaiting approval from the Illinois Commerce Commission, the Securities and Exchange Commission, and the Department of Justice to buy CILCORP. The deal 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'...
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, 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.
|
|
|
|
