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NRG Energy Inc. 'BBB-' Rating Affirmed Product Image

NRG Energy Inc. 'BBB-' Rating Affirmed

  • ID: 1787996
  • June 2000
  • Standard & Poors

NEW YORK (Standard & Poor's CreditWire) June 28, 2000--Standard & Poor's today affirmed its triple-'B'-minus issuer credit rating and senior unsecured rating on NRG Energy Inc. The outlook is stable. NRG Energy Inc., a majority-owned subsidiary (84% since its IPO was completed in late May 2000) of Northern States Power Co. (NSP, senior secured debt (double-'A'/Watch Neg/'A-1'-plus), is engaged in the acquisition, development, operation of, and ownership of interests in independent power producers, thermal production and transmission facilities, and resource recovery facilities. The triple-'B'-minus rating incorporates the following risks: -- Structurally subordinated debt and high parent company leverage. Recourse debt to recourse capitalization is high at 59% (as of Dec. 31, 1999). Parent company debt is structurally subordinated to more...

Companies mentioned in this report are: NRG Energy Inc.,Northern States Power Co.,New Century Energies Inc.
Action: Affirmed

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.

NRG Energy Inc.,Northern States Power Co.,New Century Energies Inc.

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