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Bulletin: NRG Energy Inc. Ratings Unaffected By Green Mountain Energy Co. Acquisition
Standard & Poors, Sep 2010
Abstract
SAN FRANCISCO (Standard & Poor's) Sept. 17, 2010--Standard & Poor's Ratings Services said today that NRG Energy Inc.'s (BB-/Stable/B-2) announcement on Sept. 16, 2010, that it was acquiring Green Mountain Energy Co. (GMEC) for $350 million in cash has no impact on the NRG corporate credit rating or issue ratings. We had factored the possibility of this acquisition into our analysis when we affirmed the NRG ratings in connection with NRG's acquisition of Dynegy's assets. GMEC is a leading Austin, Texas-based retail provider of clean energy products and services, not to be confused with Vermont-based utility Green Mountain Power (BBB/Stable/--). GMEC has a significant presence in Texas and New York City. To the extent that NRG expands GMEC's franchise outside...
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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