S&P ups Avista outlook to positive

Standard & Poor's said it revised to positive the outlook on Avista Corp.'s rating following the company's announcement today that it intends to sell the assets of Avista Energy, its trading and marketing interest, to Coral Energy Holdings, L.P. a subsidiary of Shell.

Affected ratings include Avista's BB+ corporate credit rating.

An exit from energy and trading operations is expected to reduce Avista Corp.'s consolidated business risks and could result in an improvement in the company's business profile score, the agency said.

S&P added that Avista Corp.'s ratings trajectory will depend not only on the sale of Avista Energy sale but also on a meaningful improvement in the company's financial profile, which is not expected before 2008.

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