Business Services Industry
Kansas City, Mo.-Area Utility's Executives to Meet with Credit Rating Agencies.
Knight Ridder/Tribune Business News, August, 2002
By Mark Davis, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Aug. 17--KANSAS CITY, Mo.--Aquila Inc. executives will meet Tuesday in New York with three credit rating agencies that are deciding whether to downgrade the company's credit rating.
Mary Amundsen, an Aquila spokeswoman, said Friday that the energy company's management team would make presentations to Standard & Poor's Corp., Moody's Investors Service and Fitch Ratings.
Aquila has said that being cut to junk-bond status would require the company to make $484 million in debt payments and additional postings of collateral. It has said it could meet its short-term obligations if one or all three agencies cut its rating.
Standard & Poor's currently rates...
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