Summary: NRG Energy Inc.

  • ID: 1788823
  • May 2011
  • Standard & Poors
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On May 10, 2011, Standard & Poor's Ratings Services revised the outlook to negative from stable and affirmed the 'BB-' corporate credit rating on NRG Energy Inc. (NRG).-At the same time, we also assigned our 'BB-' rating to the proposed $2 billion senior unsecured notes maturing in 2019 and 2021. The recovery rating on the senior unsecured notes is '3'. The proceeds, along with $400 million in cash, will be used to refinance the existing $2.4 billion notes which mature in 2016. The corporate credit rating on NRG reflects the company's fundamental exposure to volatile commodity markets balanced by an active hedging program and ongoing efforts by the company to reduce the influence of gas price volatility on its cash...

Companies mentioned in this report are: NRG Energy Inc.
Action: New Rating

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

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NRG Energy Inc.

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