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BULLETIN: Xcel Energy Misses Dividend Payment
Standard & Poors, Sep 2003
Abstract
NEW YORK (Standard & Poor's) Sept. 26, 2003--Xcel Energy Inc.'s (BBB/Watch Pos/A-2) announcement that it has delayed its declaration of October dividend payments on its common and preferred stock did not come as a surprise, Standard & Poor's Ratings Services noted, because Xcel had previously announced that due to additional write-offs related to subsidiary NRG Energy Inc., Xcel would require SEC authorization to pay the dividend. Standard & Poor's notes that the company has the necessary cash on hand to pay these dividends; liquidity is not an issue. The SEC authorization has not yet been received....
Companies mentioned in this report are: Xcel Energy Inc.,NRG Energy Inc.
Action: S&P Event
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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