UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 22, 2007
AMERICAN STATES WATER COMPANY
(Exact name of registrant as specified in its charter)
California 001-14431 95-4676679
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
630 East Foothill Blvd.
San Dimas, California 91773
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code: (909) 394-3600
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GOLDEN STATE WATER COMPANY
(Exact name of registrant as specified in its charter)
California 001-12008 95-1243678
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
630 East Foothill Blvd.
San Dimas, California 91773
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code: (909) 394-3600
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing requirement of the registrant under any of the
following provisions (see General Instruction A.2 below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the exchange Act (17 CFR
14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Section 8-Other Events
Item 8.01. Other Events
On August 22, 2007 American States Water Company announced Standard & Poor's
(`S&P') has raised the corporate ratings for American States Water Company
(`AWR') and its primary water utility subsidiary, Golden State Water Company
(`GSWC') to `A' with a `Stable' outlook from `A-` with a `Positive' outlook.
S&P's corporate credit ratings range from AAA (highest rating possible) to D
(rating for default), reflecting S&P's opinion of a company's overall capacity
to meet its financial obligations. Credit ratings are not recommendations to
buy, sell or hold a security and are subject to change or withdrawal at any time
by the rating agency.
A copy of the Company's press release is attached hereto as Exhibit 99.1.
This Form 8-K and the attached exhibit are furnished to, but not filed with, the
Securities and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN STATES WATER COMPANY
Date: August 22, 2007 /s/ Robert J. Sprowls
--------------------------------------------
Robert J. Sprowls
Sr. Vice President, Chief Financial Officer,
Treasurer and Corporate Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated August 22, 2007
Exhibit 99.1
American States Water Company and Subsidiary Ratings Raised to 'A' with
a 'Stable' Outlook
SAN DIMAS, Calif.--(BUSINESS WIRE)--Aug. 22, 2007--American States
Water Company (NYSE:AWR) today confirmed that Standard & Poor's
Ratings Services ('S&P') has raised the corporate ratings for American
States Water Company and its primary water utility subsidiary, Golden
State Water Company ('GSWC') to 'A' with a 'Stable' outlook from 'A-'
with a 'Positive' outlook.
According to S&P's August 22, 2007 press release, "The ratings
upgrade reflects improvements in AWR's financial profile and
regulatory environment, coupled with expectations of strong cash flow
measures and declining debt leverage. AWR's treatment by the
California Public Utilities Commission (CPUC) has become more
supportive with the 2003 changes to the rate filing process and
adoption of a water action plan in 2005 which outlines several
possible policy improvements, including a weather-normalization
mechanism, improved commodity cost recovery, a distribution system
improvement charge, and cost recovery preauthorization for large
projects."
Commenting on S&P's actions, AWR's President and Chief Executive
Officer Floyd E. Wicks stated, "We are very pleased with S&P's
decision to raise the ratings for both AWR and GSWC. We appreciate
S&P's efforts to understand the positive aspects as well as the
challenging issues confronting the Company and the industry in which
we operate."
S&P's corporate credit ratings range from AAA (highest rating
possible) to D (rating for default), reflecting S&P's opinion of a
company's overall capacity to meet its financial obligations. Credit
ratings are not recommendations to buy, sell or hold a security and
are subject to change or withdrawal at any time by the rating agency.
Certain matters discussed in this news release with regard to the
Company's expectations may be forward-looking statements that involve
risks and uncertainties. The assumptions and risk factors that could
cause actual results to differ materially, include those described in
the Company's Form 10-Q and Form 10-K filed with the Securities and
Exchange Commission.
American States Water Company is the parent of Golden State Water
Company, American States Utility Services, Inc. and Chaparral City
Water Company. Through its subsidiaries, AWR provides water service to
1 out of 30 Californians located within 75 communities throughout 10
counties in Northern, Coastal and Southern California (approximately
255,000 customers) and to over 13,000 customers in the city of
Fountain Hills, Arizona and a small portion of Scottsdale, Arizona.
The Company also distributes electricity to over 23,000 customers in
the Big Bear recreational area of California. Through its
non-regulated subsidiary, American States Utility Services Inc., the
Company contracts with the U.S. government and private entities to
provide various services, including water marketing and operation and
maintenance of water and wastewater systems.
CONTACT: American States Water Company
Robert J. Sprowls
Senior Vice President, Chief Financial Officer,
Treasurer and Corporate Secretary
(909) 394-3600, extension 647