CILCO

AcronymDefinition
CILCOCentral Illinois Light Company
References in periodicals archive ?
CILCO has a total generating capacity of approximately 1,200 megawatts.
To accomplish the reorganization CILCO and IP will be merged into CIPS, and CIPS will be renamed Ameren Illinois Company (AIC).
The debt and other obligations of CILCO and IP will become obligations of the consolidated entity, AIC, and the senior secured notes of CILCO and IP will still be secured by the mortgage bonds held by their respective senior note trustee, subject to the release and other provisions of the respective senior note indentures.
Given the financial improvement achieved by each of the three utilities in 2009, the new entity could be assigned a 'BBB' IDR, assuming a reasonable outcome in the three utilities' pending electric and gas rate cases, in which case the IDRs of CIPS and CILCO would be upgraded to 'BBB' from 'BBB-' with a similar one notch upgrade of their secured debt and preferred stock ratings to 'BBB+' and ' BBB-', respectively, while CILCO's 'BBB' IDR and 'BBB+' secured debt ratings would be unchanged.
In connection with the merger CIPS, CILCO and IP expect to redeem CILCO's preferred stock and $40 million principal amount of CIPS' 7.
The ratings of CILCO reflect its strong earnings and cash flow from regulated utility activities, modest leverage and a constructive deregulation program in Illinois.
CILCORP's largest subsidiary, Central Illinois Light Company, CILCO, serves 200,000 electric and more than 200,000 natural gas customers.
On a standalone basis the credit profiles of CILCORP and CILCO are consistent with entities in the 'BBB' and 'A' ratings categories, respectively.
The ratings of CILCORP and CILCO remain on Rating Watch Evolving.
The outcome is a sale agreement that we believe meets the needs of both AES shareholders and the CILCO community.
With data from nearly 400,000 gas and electric customers and more than 10,000 miles of power and gas lines to manage, we were looking for an information management solution that could grow with our organization," said Cliff Pickens, CILCO Senior AIX Administrator.
While IPALCO and IP&L's new Rating Outlook is Stable, CILCORP and CILCO are placed under Rating Watch Evolving to reflect the pending sale by AES.