- Published: May 2012
- Region: United States
Summary: IPALCO Enterprises Inc.
- Published: August 2010
- Standard & Poors
The ratings on IPALCO Enterprises Inc. reflect its consolidated credit profile including its association with the weaker credit quality of parent, AES Corp. (BB-/Positive/--). IPALCO is the intermediate holding company for regulated electric utility Indianapolis Power & Light Co. (IP&L). The ratings also reflect IPALCO's 'excellent' business risk profile and its 'highly leveraged' financial risk profile. As of June 30, 2010, the Indianapolis-based IPALCO had about $1.8 billion of total debt outstanding. The ratings on IPALCO and IP&L are three notches above the rating on parent AES. The cumulative value provided by structural protections, including covenants, a pledge of stock, and an independent director, in our opinion, insulate the credit quality of IPALCO and IP&L from their weaker parent, and...
Companies mentioned in this report are: IPALCO Enterprises Inc.
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IPALCO Enterprises Inc.