Risk.net

S&P raises Aquila rating

The Kansas City-based company has about $2.5 billion of debt and the rating upgrade is largely based on Aquila's termination of a long-term, prepaid natural gas supply contract with the Municipal Gas Authority of Mississippi and an agreement with the American Public Energy Agency to terminate two long-term natural gas supply contracts on September 30, 2004. “The termination allows the company to regain access to a substantial portion of its liquidity and alleviates credit concerns associate