Moody's affirms Ameren, ups Central Illinois

Moody's Investors Service said it upgraded the ratings of Central Illinois Public Service Co. (issuer rating to Baa3 from Ba1); Central Illinois Light Co. (issuer rating to Baa3 from Ba1); Illinois Power Co. (issuer rating to Baa3 from Ba1) and Cilcorp Inc. (senior unsecured to Ba1 from Ba2).

The corporate family rating, probability of default rating and all loss given default ratings of the Cilcorp have been withdrawn, Moody's said, adding that it affirmed the ratings of Ameren Corp. (Baa3 senior unsecured), Union Electric Co. (Baa2 issuer rating) and AmerenEnergy Generating Co. (Baa3 senior unsecured).

The outlook is stable.

"The upgrade of Ameren's Illinois utilities is prompted by the recent execution of new bank credit facilities and the improved political and regulatory environment for utilities in Illinois," said Michael G. Haggarty, vice president and senior credit officer.

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