NEW YORK (Standard&Poor's CreditWire) March 12, 1999--The credit ratings of UtiliCorp United Inc. (BBB/Stable/A-2) were unchanged following the announcement of the winning $1.26 billion bid by the Energy Partnership for the Australian gas properties Ikon Energy and Multinet Gas. The Energy Partnership bid was made jointly by UtiliCorp and AMP Asset Management, an Australian investment manager. Ikon is a retail gas service company and Multinet is a gas distribution utility. UtiliCorp and AMP also hold substantial minority interests in United Energy Ltd. (A-/Stable/A-2), an electric distribution utility that, like Ikon and Multinet, is in the Australian state of Victoria. United Energy will manage the gas operations on behalf of the Energy Partnership. The acquisition is not expected to
