- Language: English
- 66 Pages
- Published: September 2011
- Region: Bulgaria
NRG Energy Inc.'s Proposed $1.2 Billion Notes Rated At 'BB-'
- Published: January 2011
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) Jan. 11, 2011--Standard & Poor's Ratings Services assigned its 'BB-' rating to NRG Energy Inc.'s proposed $1.2 billion senior unsecured notes due 2018. In addition, we assigned a recovery rating of '3' to the notes, indicating our expectation for a meaningful (50%-70%) recovery of principal in the event of a payment default. At this recovery level, issue ratings are equal with the issuer's 'BB-' corporate credit rating. The company will use the proceeds to refinance $1.2 billion in unsecured notes due in 2014. NRG is a wholesale power generator that owns 24,010 MW of nuclear, fossil, and renewable generation in Texas, south central California, and the Northeast. NRG also serves 1.6 million retail electric customers...
Companies mentioned in this report are: NRG Energy Inc.
Action: New Rating
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NRG Energy Inc.
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