NEW YORK (Standard&Poor's) Feb. 27, 2004--Standard&Poor's Ratings Services noted today that the Missouri Public Service Commission (PSC) approved Aquila Inc.'s (B/Negative/--) purchase of St. Joseph Light&Power Co. However, the approval was based on Aquila's motion to drop efforts to recover the $92 million premium it paid for the St. Joseph utility. Therefore, the approval is not a favorable credit event, but does not affect the company's current ratings or outlook. In a related event, a Missouri court issued a stay that temporarily prevents the PSC from considering Aquila's $80 million rate filing because about $15 million of the filing would come from St. Joseph customers. With the approval of Aquila's purchase of St. Joseph,
