NEW YORK (Standard&Poor's) March 2, 2006--Standard&Poor's Ratings Services said today that it placed its 'A-' corporate credit ratings on water utilities United Waterworks and United Water New Jersey on CreditWatch with positive implications. The ratings on both entities are tied to European parent, Suez S.A. "The rating action reflects the improvement of Suez's business and financial risk that would result from its announced merger with stronger, lower-risk Gaz de France S.A.," said Standard&Poor's credit analyst Plana Lee. To resolve the CreditWatch listing, Standard&Poor's will focus primarily on the strategy and the financial policy of the entire enlarged group, post merger.
