On Oct. 6, 2005, Standard&Poor's Ratings Services assigned its 'B' rating and its '1' recovery rating to diversified energy company Aquila Inc.'s (B-/Watch Pos/B-3) $300 million five-year secured credit facility. The 'B' rating was also placed on CreditWatch with positive implications, where all of the ratings on Aquila were placed Sept. 22, 2005. The 'B' rating and '1' recovery rating indicate the expectation for the full recovery of principal in the event of a payment default. Union Bank of California (UBoC) is the administrative agent, issuing bank, and sole lead arranger. As of June 2005, the Kansas City, Mo.-based energy provider had about $2.35 billion in total debt. Aquila may draw up to $300 million in funds (with
