S&P: Ameren unchanged

Standard & Poor's said that the Illinois Commerce Commission's rate orders to increase Ameren Corp.'s (BBB-/stable/A-3) utilities base rates by about $5 million, compared with the company's initial request of $162 million, is not conducive to credit quality. The decision appears in sharp contrast to recent constructive and moderate rate increases that the Illinois Commerce Commission ordered for various utilities in 2008, 2009 and even in the beginning of 2010, S&P said.

However, the agency believes that any rating or outlook revisions now would be premature; Ameren released an 8-K Friday that outlines cost-cutting initiatives that it will immediately implement to address the financial pressures created by the rate order.

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