S&P cuts AmerenEnergy

Standard & Poor's said it lowered its corporate credit on AmerenEnergy Generating Co. to B- from B.

The agency said it also lowered the ratings on GenCo's senior unsecured debt to B from B+, reflecting a 2 recovery rating, which indicates an expectation of substantial recovery in the event of a payment default.

The outlook is stable.

The agency said the downgrade on AmerenEnergy Generating Co. reflects its stand-alone credit quality, including its highly leveraged financial risk profile and weak business risk profile. S&P said the view of GenCo is based on its stand-alone credit quality with no parental support.

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