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Bulletin: NRG Energy's Credit Quality Unaffected By Power-Purchase Agreement
Standard & Poors, Nov 2006
Abstract
NEW YORK (Standard & Poor's) Nov. 17, 2006--Standard & Poor's Ratings Services said today that NRG Energy Inc.'s (B+/Stable/B-2) announcement that it has entered into a 10-year power-purchase agreement (PPA) for the sale of the output of a planned 260 MW gas-fired generation facility to Southern California Edison Co. (BBB+/Stable/A-2) is neutral to NRG's credit quality. The existing mothballed capacity that is being upgraded to serve Southern California Edison is part of the capital plan that NRG Energy announced in June 2006. The full capital program targets about 10,000 MW of capacity additions to NRG's 22,800 MW generation portfolio over the course of many years. Standard & Poor's views the capital plan as ambitious and the extent of its implementation...
Companies mentioned in this report are: NRG Energy Inc.,Southern California Edison Co.
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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