Fitch upgrades Ameren Illinois to BBB+

Fitch Ratings said it upgraded the long-term issuer default rating of Ameren Illinois Co. by one notch to BBB+ from BBB.

In addition, the agency affirmed the long-term issuer default rating of Ameren Corp. and Union Electric Co. at BBB+.

The outlooks are stable.

Fitch said the upgrade reflects: an improved regulatory compact illustrated by the constructive outcome in the most recent Formula Rate Plan (FRP) proceeding; growing investments in FERC-regulated investment projects that provide attractive returns and timely cost recovery; sustained robust financial performance with credit metrics that are in line with the BBB+ rating level; and adequate liquidity.

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