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AES Corp. ?85M Notes Rated 'BB'; AES Corp. Remains on Watch Positive Feb 01
Standard & Poors, Feb 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) Feb. 22, 2001--Standard & Poor's today assigned its double-'B' rating to AES Corp.'s -85 million ($123 million) senior unsecured notes, due March 2011. The company's double-'B' corporate credit and senior unsecured rating remains on CreditWatch with positive implications, where it was placed on July 17, 2000. AES plans to use the proceeds of the issue to fund a portion of the acquisition of Thermo Ecotek Corp. and for general corporate purposes. On July 17, 2000, Standard & Poor's placed AES on CreditWatch with positive implications following AES' announcement of plans to acquire IPALCO Enterprises Inc.. for $25 per share in a stock-for-stock transaction valued at $2.15 billion, plus the assumption of $890 million of...
Companies mentioned in this report are: AES Corp. (The),IPALCO Enterprises Inc.,AES Gener S.A.
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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