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AES Corp. 'BB' Rating Remains on CreditWatch Positive Aug 00
Standard & Poors, Aug 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) Aug. 25, 2000--Standard & Poor's today announced that AES Corp.'s double-'B' rating remains on CreditWatch with positive implications where it was placed on July 17, 2000. The affirmation follows AES Corp.'s announcement that it will issue $600 million of senior unsecured notes due September 2010 under its existing universal shelf registration statement. AES will use the proceeds of the issue to repay a portion of a $700 million term loan incurred by AES' subsidiary AES EDC Funding, LLC to finance the purchase of its acquisition of C.A. La Electricidad de Caracas and Corporacion EDC, C.A. (EDC), and for general corporate purposes. The EDC loan matures in September 2001 and carries a rate of LIBOR...
Companies mentioned in this report are: AES Corp. (The),IPALCO Enterprises Inc.,C.A. La Electricidad De Caracas
Action: Affirmed
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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