NEW YORK (Standard&Poor's) March 14, 2005--Standard&Poor's Ratings Services said today that it affirmed its 'B-' corporate credit rating on Aquila Inc. The outlook remains negative. As of December 2004, the Kansas City, Mo.-based company had about $2.4 billion in total debt outstanding, including long-term gas contracts. "The rating affirmation follows Aquila's announcement today that it plans to sell certain regulated utility assets to raise funds to reduce debt and help fund future investment in regulated capital projects," said Standard&Poor's credit analyst Jeanny Silva. "The negative outlook may be revised to stable once the executed sale agreements provide evidence that proceeds from planned divestitures will contribute to meaningful debt reduction and improved credit measures," said
