NEW YORK (Standard&Poor's) Sept. 22, 2005--Standard&Poor's Ratings Services today placed its ratings on Aquila Inc. on CreditWatch with positive implications. As of June 2005, the Kansas City, Mo.-based energy provider had about $2.35 billion in total debt. "The placement follows the company's announcement that it has signed definitive agreements to sell four utility businesses, for a total of $897 million, plus working capital and subject to net plant adjustments," said Standard&Poor's credit analyst Jeanny Silva. Associated EBITDA loss is estimated at about $100 million in total, which implies Aquila received relatively attractive bids for its assets. If approved by the various regulatory commissions, the sales would provide an opportunity for debt reduction -- potentially
