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NRG Energy Inc. $475 Million Bonds Rated 'B+' Product Image

NRG Energy Inc. $475 Million Bonds Rated 'B+'

  • ID: 1787120
  • January 2004
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Jan. 30, 2004--Standard & Poor's Ratings Services today assigned its 'B+' rating to NRG Energy Inc.'s $475 million 8% second priority senior secured bonds due 2013. The proceeds of the bonds were used to repay the same amount of first priority term loans. NRG emerged from bankruptcy as a separate, reorganized company on Dec. 5, 2003. NRG is engaged in the ownership and operation of U.S. merchant power generating facilities, thermal production and resource recovery facilities, and various international independent power producers. The rating incorporates the following risks: A large percentage of the cash available for debt service is exposed to the U.S. merchant power markets that are experiencing depressed market conditions; There is regulatory...

Companies mentioned in this report are: NRG Energy Inc.
Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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