NEW YORK (Standard&Poor's) Feb. 7, 2007--Standard&Poor's Ratings Services said today that it placed its 'B-2' short-term corporate credit rating on Aquila Inc. (B/Watch Pos/B-2) on CreditWatch with positive implications. The 'B' long-term corporate credit rating on the company was already on CreditWatch with positive implications. The rating action follows the announcement that Great Plains Energy Inc. (BBB/Watch Neg/--) will acquire 100% of Aquila's common stock. Great Plains is expected to pay Aquila shareholders $1.7 billion in cash (40%) and stock (60%). Shortly after the merger's close, Great Plains will tender roughly 40% of assumed debt. Prior to today's merger announcement, Aquila's long-term ratings had been on CreditWatch with positive implications pending the completion of the company's
