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BULLETIN: NRG Energy's Sale of Kendall Power Plant Has No Effect on Rating
Standard & Poors, Sep 2004
Abstract
NEW YORK (Standard & Poor's) Sept. 14, 2004--Standard & Poor's Ratings Services said today that NRG Energy's sale of its 1,160-MW generating plant in Minooka, Ill., has no effect on the 'B+/Stable/--' rating on NRG. Standard & Poor's always viewed this investment as non-recourse and did not include any cash flow or debt from Kendall in its analysis of the Minneapolis, Minn.-based company. The sale, however, alleviates a potential drain of management time, which may have been used to refinance the debt at Kendall. Kendall's debt has a bullet maturity in 2006....
Companies mentioned in this report are: NRG Energy Inc.
Action: Bulletin
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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