S&P upgrades Ameren

Standard & Poor's said it raised the issuer credit rating on Ameren Corp., Ameren Illinois Co. and Ameren Missouri to BBB+ from BBB.

The outlook is stable.

S&P also said it raised the rating on Ameren Corp.'s senior unsecured debt to BBB from BBB-, raised the ratings on Ameren Illinois's and Ameren Missouri's senior secured debt to A from A- and raised the rating on the unsecured debt at Ameren Illinois to BBB+ from BBB.

The agency also said it removed all the ratings from CreditWatch positive, where they were placed in March 2013.

The upgrades reflect management's commitment to credit quality and the high certainty regarding the company's strategic direction, said Gabe Grosberg, an S&P analyst.

The company will be a fully rate-regulated business with primary operations in Illinois and Missouri, Grosberg said.

Furthermore, management will center its time, focus and energy on effectively managing regulatory risk and expanding its regulated businesses, the agency said.

The successful implementation of both initiatives supports credit quality, S&P said.

The upgrades also reflect the company's excellent business risk profile and significant financial risk profile, the agency said.

The company expects it will disproportionately invest in lower risk rate-regulated electric transmission assets that will gradually strengthen the company's business risk profile, S&P said.

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