NEW YORK (Standard&Poor's) May 15, 2007--Standard&Poor's Ratings Services said today that it raised its corporate credit rating on Aquila Inc. to 'B+' from 'B'. The rating remains on CreditWatch with positive implications pending requisite approvals for the sale of 100% of Aquila's common stock to Great Plains Energy Inc. The upgrade follows Aquila's announcement that it will repurchase another $344 million in outstanding debt by June 15, 2007, bringing total adjusted debt reduction to about $1.1 billion since year-end 2005. "The pending repurchases are the final step in Aquila's original divestiture and debt reduction plan," said Standard&Poor's credit analyst Jeanny Silva. The plan called for the sale of three gas utilities and one electric
