S&P Maintains Alliant Energy's Ratings

NEW YORK (AP) -- Standard & Poor's Ratings Services said Friday that Alliant Energy Corp.'s recent increase in its stock repurchase program will not affect its ratings or outlook.

The Midwestern utility operator earlier this week boosted its program by $200 million, giving it a total authorization of $295 million. The decision followed announcements for plans to build large coal power plants, raise its dividend and sell Iowa transmission assets.

"Despite these developments, Standard & Poor's still expects the company to maintain adequate credit metrics over the short to intermediate term," the credit-rating agency said in a statement.

The company now has a "BBB+" rating.

Alliant Energy shares rose 18 cents to $38.92 on the New York Stock Exchange.