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Fitch Places Ameren Genco on Watch Positive Following Divestiture Announcement; Affirm AEE & Subs
Business Wire - Fri Mar 15, 12:43PM CDT
Fitch Ratings has placed Ameren Energy Generating Co.'s (Genco) ratings on Rating Watch Positive following the announcement by Ameren Corp. (AEE), Genco's ultimate parent company, that it has entered into a definitive agreement to divest its merchant generation business, Ameren Energy Resources Company (AER), to an affiliate of Dynegy Inc. (Dynegy). The transaction is expected to close in the fourth quarter of 2013. Fitch has also affirmed the ratings of AEE and its two regulated utility subsidiaries, Union Electric Co. (UE) and Ameren Illinois Co. (AIC). The Rating Outlook remains Stable.