Any idea what the State of Illinois bond rating is? I was just wondering.
Rich Miller
· 2 years ago
A whole lot higher than Ameren's.
Arthur Andersen
· 2 years ago
I believe we're still Aa or thereabouts, with one or two of the services issuing negative outlooks after the pension cuts on 06.
Just wait 'til $16 billion in new GO pension debt and $11 billion in capital debt is tacked on.
Rich Miller
· 2 years ago
AA is correct. But let's get back to Ameren.
Disgusted
· 2 years ago
"Oh, the games people play now Every night and every day now People meaning what they say now People saying what they mean"
They are all in cahoots. They all know each other and how to play the game and the consumer and middle class will ALWAYS come out on the bottom. A pox on all their houses.
Killroy D.
· 2 years ago
People need to learn how to use less power.
Now is a good time to start.
To Killroy D.
· 2 years ago
We started using less power early last year and spent big bucks to winterize. We still got HAMMERED by Ameren's GREED.
Truthful James
· 2 years ago
As a person working in the municipal sector, I do believe that it is not unusual what if a credit is being downgraded -- and because of the financial implications which ensue, the rating agencies must ensure that they have all the facts right.
It is straight dead on stupid to think Ameren or any credit would want to have its securities downgraded from investment grade to speculative. all institutional and many individual investors have parameters surrounding the investments they put in their portfolios. The drop in rating will trigger a necessary sell off from Bond Fund, Pension Fund, Insurance Company and other portfolios. Even if the investment manager were sleeping with the president of the credit, they could not afford to hold this now speculative security. The value of their own portfolio would decrease. And they will be selling them at a relative loss.
There are junk bond funds which will buy them, of course, at a higher yield -- sufficient to reflrct the risks they perceive.
Utilities are creatures with permanent debt, maturing securities are refinanced. The higher cost of refinancing and new financing will be reflected in higher future electric rates to be approved by any state regulatory board.
The remark by the lawyer for the Oregon CUB is as close to ibelous as he would dare get.
Fiefdomone
· 2 years ago
"You reap what you sow", that has to be a quote from the candidate for Hypocrite of the Year. As CUB director during all of this dereg lawmaking wasn't he in part responsible for sowing all this mess? I can only hope the aftermath in Illinois politics is similar and swift as it was in California.
exoffender
· 2 years ago
Pat Quinn was never a CUB Director nor had anything to do with running that group.
Lied to
· 2 years ago
Ameren had TEN YEARS to tell customers that their "ALL ELECTRIC RATES" would be gone. Why didn't they speak up? Why did they keep selling that LIE? They don't seem to have a problem twisting the facts if it hurts the customer but when they start feeling the pain, the threats and whinning abound. The Big Boys at Ameren have really screwed everything up in Illinois AND Missouri.
Rusty
· 2 years ago
Well, everyone has finally got what they wished for. If you think rates are high now, wait until IL government gets in on this. People may have to stop getting their nails done, fast food, and everything else you take as a neccesity. Grow up, smell the coffee, and live like responsible citizens. Me? I'll be looking for another job. God Bless
BJ
· 2 years ago
excuse me....about Quinn, someone said he was in no way ever connected to CUB. Here's some info...."A longtime consumer advocate, Quinn spearheaded the 1983 drive to create the Citizens Utility Board (CUB), a statewide membership organization that has supported safe, reliable and affordable utility service."
exoffender
· 2 years ago
Fiefdomone said Quinn was "Director" of CUB. Not true. And CUB was created by the legislature, not through referendum.
All Comments
Just wait 'til $16 billion in new GO pension debt and $11 billion in capital debt is tacked on.
Every night and every day now
People meaning what they say now
People saying what they mean"
They are all in cahoots. They all know each other and how to play the game and the consumer and middle class will ALWAYS come out on the bottom.
A pox on all their houses.
Now is a good time to start.
It is straight dead on stupid to think Ameren or any credit would want to have its securities downgraded from investment grade to speculative. all institutional and many individual investors have parameters surrounding the investments they put in their portfolios. The drop in rating will trigger a necessary sell off from Bond Fund, Pension Fund, Insurance Company and other portfolios. Even if the investment manager were sleeping with the president of the credit, they could not afford to hold this now speculative security. The value of their own portfolio would decrease. And they will be selling them at a relative loss.
There are junk bond funds which will buy them, of course, at a higher yield -- sufficient to reflrct the risks they perceive.
Utilities are creatures with permanent debt, maturing securities are refinanced. The higher cost of refinancing and new financing will be reflected in higher future electric rates to be approved by any state regulatory board.
The remark by the lawyer for the Oregon CUB is as close to ibelous as he would dare get.
Grow up, smell the coffee, and live like responsible citizens. Me? I'll be looking for another job.
God Bless