Moody's may up Alliant

Moody's Investors Service said it placed Alliant Energy Corp.'s prime-3 rating for commercial paper under review for possible upgrade. Moody's also placed the Baa3 rating for the guaranteed senior unsecured notes of Alliant Energy Resources Inc. under review for possible upgrade.

Separately, Moody's affirmed the ratings of Wisconsin Power and Light Co., including the A1 rating for its senior secured debt and the A2 rating for its senior unsecured debt. Moody's also affirmed the ratings of Interstate Power and Light Co., including the A3 rating for its senior secured debt and the Baa1 rating for its senior unsecured debt. The outlook for WP&L and IP&L remains stable.

Moody's said its rating action reflects Alliant Energy's success in reducing debt levels, improvements in consolidated financial metrics and the expectation that there will be further debt reduction in 2005.

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