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S&P Affirms NRG Energy's BBB- Sr Unsecd Notes Rating Product Image

S&P Affirms NRG Energy's BBB- Sr Unsecd Notes Rating

  • ID: 1788105
  • December 1998
  • Standard & Poors

Abstract
NY -- Standard & Poor's CreditWire 12/29/98 -- Standard & Poor's today affirmed its triple-'B'-minus rating on NRG Energy Inc.'s $375 million senior unsecured notes. Standard & Poor's also affirmed its triple-'B'-minus corporate credit rating on the company. The outlook is stable. The rating affirmation follows NRG's announcement of two major acquisitions. NRG will jointly purchase with Dynegy 1,218 MWs of power generation facilities for $356 million from San Diego Gas & Electric Co. The power facilities consist of the 965 MW natural gas fired Encina Power Plant and 17 combustion turbines consisting of 253 MW located in the San Diego area. NRG will operate and maintain the facilities while Dynegy will manage fuel procurement and energy marketing. Dynegy, formerly...

Companies mentioned in this report are: NRG 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
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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