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AES Corp $600M Notes Rated 'BB'; AES Corp Remains on Watch Positive Feb 01
Standard & Poors, Feb 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) Feb. 6, 2001--Standard & Poor's today assigned its double-'B' rating to AES Corp.'s $600 million senior-unsecured notes, due February 2011. The company's double-'B' rating remains on CreditWatch with positive implications, where it was placed on July 17, 2000. The notes will be issued under AES' existing universal shelf registration statement. AES plans to use the proceeds of the issue to fund a portion of the Tiete tender offer, repay certain outstanding indebtedness, and for general corporate purposes. Standard & Poor's estimates that the issue will result in an increase of the percentage of recourse debt in AES' capital structure of three to four percentage points. The exact change to the capital structure will depend...
Companies mentioned in this report are: AES Corp. (The),IPALCO Enterprises Inc.,AES Gener S.A.
Action: CreditWatch Update
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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