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Ameren Missouri Dec 11
Standard & Poors, Dec 2011
Abstract
A fully regulated integrated electric and gas company Decreasing regulatory risk in Missouri Improved consolidated financial measures Affiliation with the higher-risk operations and less dependable cash flows from Ameren's merchant generation business Affiliation with the merchant generation business whose recovery of environmental capital spending is uncertain Standard & Poor's Ratings Services' ratings on Ameren Missouri (AM) reflect the consolidated credit profile of its parent, Ameren Corp.'s (Ameren). The ratings also reflect AM's excellent business risk profile and Ameren's significant financial risk profile. Ameren's subsidiaries include rate-regulated utilities AM and Ameren Illinois Co., and merchant energy company AmerenEnergy Generating Co. (GenCo). Based on the combination of future earnings, cash flow, capital expenditures, and credit risk exposure, we view Ameren as about...
Companies mentioned in this report are: Ameren Missouri
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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