Business Services Industry
Credit Agency Says Kansas City, Mo.-Based Utility's Strategy Looks Promising.
Knight Ridder/Tribune Business News, July, 2002
By Steve Everly, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Jul. 27--Credit agency Fitch Ratings said Friday that Aquila Inc. appeared to have a promising strategy to stabilize its financial situation.
Ellen Lapson, a Fitch analyst, said more information would be needed to determine how successfully the strategy would be carried out.
The analyst noted the company's decisions to end most of its trading operation, to sell up to $1 billion in assets, and to rely in the future on business with more stable cash flow.
Fitch has Aquila's debt one step above junk, at BBB-. Successfully carrying out its strategy should maintain that rating and over time could improve it, Lapson said.
"Their situation appears...
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