Affiliation with Ameren's regulated electric and gas businesses Ameren consolidated term improved financial measures Prudent management of capital investments Ameren Corp.'s support for the merchant business is limited Higher-risk operations and less dependable cash flows from the company's merchant generation business Recovery of environmental capital spending at the merchant generation business is uncertain Standard & Poor's Ratings Services' ratings on AmerenEnergy Generating Co. (GenCo.) reflect the consolidated credit profile of its parent, Ameren Corp. (Ameren). The ratings also reflect GenCo's fair business risk profile and Ameren's significant financial risk profile. Ameren's subsidiaries include rate regulated utilities Ameren Missouri and Ameren Illinois Co. , and merchant energy company GenCo. Based on the combination of future earnings, cash flow, capital expenditures, and...
Companies mentioned in this report are:
- Illinois Power Generating Co.
- Ameren Illinois Co.
- Ameren Corp.
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