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NRG Energy Inc. 'BBB-' Rating Affirmed Nov 00

  • ID: 1788030
  • November 2000
  • Standard & Poors
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  • NRG Energy Inc.
  • Xcel Energy Inc.
  • MORE

NEW YORK (Standard & Poor's CreditWire) Nov. 9, 2000--Standard & Poor's today affirmed its triple-'B'-minus corporate credit rating on NRG Energy Inc. The outlook is stable. The affirmation follows NRG's announcement that it has agreed to purchase 5,691 MW of generating assets, which are either in operation, under construction, or in advanced development, from LS Power LLC. The purchase price of the assets is approximately $658 million and will likely be funded through a combination of corporate equity, convertible securities, and corporate debt. Standard & Poor's views the acquisition as credit neutral to NRG since it will be funded primarily with equity or equity-like securities; and because the operating assets themselves are highly leveraged at the project level, they do...

Companies mentioned in this report are:
- NRG Energy Inc.
- Xcel Energy 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
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- NRG Energy Inc.
- Xcel Energy Inc.

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