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Summary: NRG Energy Inc. Product Image

Summary: NRG Energy Inc.

  • Published: September 2003
  • Standard & Poors

Abstract
As a consequence of many variables, including compressed spark spreads, regulatory uncertainty, overleverage, and massive trigger events, on May 14, 2003, NRG Energy Inc. (NRG), a wholly owned subsidiary of Xcel Energy, filed a voluntary petition for protection from creditors under the U.S. bankruptcy code. NRG is an energy company that owns and operates power generation facilities in the U.S. and abroad. The 'D' corporate credit rating reflects the bankruptcy filing; however, Standard & Poor's Ratings Services had rated NRG selective default (SD) since September 2002, when NRG had missed payments on several corporate and project obligations. NRG is currently operating as a debtor-in-possession and is working toward a comprehensive corporate and financial restructuring. Before filing its bankruptcy petition, NRG...

Companies mentioned in this report are: NRG Energy Inc.
Action: Review

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NRG Energy Inc.

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