|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: NRG Energy Moves Toward Stability
Standard & Poors, Aug 2002
Abstract
Standard & Poor's Ratings Services notes that NRG Energy Inc. (B+/Watch Neg/--) will not be obliged to complete the $1.5 billion acquisition of power generating plants from FirstEnergy Inc., according to a press release from FirstEnergy on Aug. 8. The elimination of that financial obligation plus the sale of substantially all non-U.S. generating assets will help stabilize NRG's financial profile. In addition, marketing the generating assets held by NRG South Central--reported in Xcel Energy Inc.'s July 25 second-quarter earnings release--would further strengthen NRG's credit profile. However, NRG is still in the 'danger zone' until negotiations are completed with the banks providing the $2 billion construction facility. The downgrade of NRG's rating to below investment grade triggered a call for collateral...
Companies mentioned in this report are: NRG Energy Inc.
Action: S&P Event
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.
|
|
|
|
