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Oct. 1, 2004 / 12:20 PM

Fitch upgrades Illinois Power

CHICAGO, Oct. 1 (UPI) -- Fitch Ratings Friday upgraded Illinois Power Co.'s debt ratings and removed the company from the ratings watch list.

Fitch lifted the senior secured rating of the utility to BBB from B, the senior unsecured rating to BBB minus from CCC plus and the preferred stock rating to BB plus from CC.

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The outlook is positive.

Fitch said, the ratings take into consideration Illinois Power's stable cash flows and low-risk business profile as a regulated distribution utility.

Illinois Power is a transmission and distribution utility serving more than 590,000 electric and 410,000 gas customers in Illinois.

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