Fitch rates Ameren Illinois notes BBB+

Fitch Ratings said it has assigned a BBB+ rating to Ameren Illinois Co.'s new $280 million issue of 4.8% senior secured notes due Dec. 15, 2043.

The outlook is stable.

Net proceeds will be used to repay short-term debt borrowings and for other general corporate purposes, including the funding at maturity of the company's $150 million of 8.875% senior secured notes due Dec. 15, 2013, the agency added.

Ameren Illinois' ratings are supported by the predictable earnings and cash flows generated by its regulated transmission and distribution utility business, and rate base growth opportunities related to transmission, smart meter and other infrastructure investments, Fitch stated.

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