Fitch drops AmerenEnergy

Fitch Ratings said it has downgraded the issuer default rating of AmerenEnergy Generating Co. to B- from BB- and the senior unsecured debt ratings to B+/RR2 from BB-.

The outlook is negative.

Fitch said that its rating action follows the announcement by Ameren Corp., Genco's parent holding company, that it intends to exit the merchant generation business based on an evaluation of Genco's current and projected financial condition.

The revised ratings also reflect Ameren Corp.'s plan to reduce and ultimately eliminate Genco's reliance on Ameren Corp.'s financial support and shared services support, the agency added.

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