The rating on NRG Energy Inc.'s $3.575 billion term loan B and the $1.5 billion first-lien synthetic LOC facility has been revised to 'BB', two notches above the corporate credit rating, from 'BB-'. The recovery rating remains at '1', indicating expectations of very high (90% to 100%) recovery in the event of a payment default. The rating on the $1 billion, delayed-draw term loan B at NRG Holdings Inc. (NHI), a holding company that owns 100% of NRG's equity, remains unchanged, at 'B-', two notches below NRG Energy's corporate credit rating, while the recovery rating has been revised to '6', indicating expectations of negligible (0 to 10%) recovery in the event of a payment default, from '5'. The recovery rating...
Companies mentioned in this report are: NRG Energy Inc.
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