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AES Gener S.A. Jun 08
Standard & Poors, June 2008
Abstract
Solid investments in Chile; Favorable regulatory framework for power generation in Chile; Reliable power supply source in the largely hydro Chilean Central Interconnected System (SIC); Relatively large power sale contracts with solid Chilean offtakers, which provide certain revenue stability; Projected high prices for power generation for the 2008-2012 period; AES Chivor's good financial performance; Low debt maturities until 2014; and Projected adequate debt service coverage ratios in the 2008-2012 period. Relatively high-cost generator in the Chilean SIC, which is partly offset by relatively large power sale contracts with solid offtakers; Severe natural gas supply shortages in Chile that, combined with a below-average hydrology in the SIC, result in highly volatile power generation cost and high cost of its power purchases;...
Companies mentioned in this report are: AES Gener S.A.,Indianapolis Power & Light Co.,IPALCO Enterprises Inc.,AES Corp. (The),AES China Generating Co. Ltd.,C.A. La Electricidad De Caracas ,AES Sul Distribuidora Gaucha de Energia S.A.,AES CHIVOR & CIA S.C.A. E.S.P.
Action: Review
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: Full Analysis
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