S&P: AmerenEnergy now negative

Standard & Poor's said it revised the outlook on AmerenEnergy Generation Co. to negative from stable.

At the same time, the agency said it raised the rating on Ameren Missouri's senior secured debt to BBB+ from BBB to better reflect the recovery prospects for the senior secured debt and revised its recovery rating to 1+ from 1.

The agency noted that it also lowered the senior secured debt rating on the former Central Illinois Public Service Co. to BBB from BBB+ to reflect weaker recovery prospects for the first mortgage bonds and we lowered the recovery rating to a 1 from 1+.

At the same time, the agency said it affirmed the BBB- corporate credit rating on parent Ameren Corp. and its subsidiaries: GenCo., Ameren Illinois, and Ameren Missouri.

The negative outlook on GenCo. reflects its view that there is at least a one-in-three probability that Ameren's incentive to support GenCo. may wane during the next 18 months, the agency added.

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