NRG Energy Inc.

  • ID: 1789350
  • May 2011
  • Standard & Poors
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An active hedging policy that mitigates commodity price volatility; A strong retail electric business that is somewhat countercyclical to the wholesale business; A strong operating record at its generation fleet; Positive free cash flow for the next few years even under our low gas price assumptions; and A strong liquidity position. Longer-term cash flow exposure to U.S. merchant power market risks; Lack of near-term prospects for tightening power markets; Operational and counterparty credit risks that arise from hedging and load following requirements of the retail business; An "aggressive" financial profile; Aggressive growth plans, both organic and through acquisitions; and Carbon legislation risk that is not currently factored into the rating. On May 10, 2011, Standard & Poor's Ratings Services revised...

Companies mentioned in this report are: NRG Energy Inc.,NRG Dunkirk Power
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.

Research Type: Full Analysis

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NRG Energy Inc.,NRG Dunkirk Power

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