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DBRS: Epcor unaffected
DBRS noted that Epcor Utilities Inc.'s wholly owned subsidiary, Epcor Water (USA) Inc., has agreed to acquire 100% of the stock of Arizona American Water and New Mexico American Water, wholly owned subsidiaries of American Water Works Co., Inc., for about $470 million.
The acquisition, if closed, would have no impact on the company's current credit ratings of A (low) and R-1 (low), the agency said.
The deal is subject to regulatory approval, which is anticipated in the first quarter of 2012, DBRS said.
The proposed acquisition is in line with Epcor's growth strategy of focusing on investment opportunities in rate-regulated businesses, the agency said.
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