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Summary: Mirant Corp. Apr 11 Product Image

Summary: Mirant Corp. Apr 11

  • Published: April 2011
  • Standard & Poors

FEATURED COMPANIES

  • GenOn Americas LLC
  • GenOn Energy Inc.
  • GenOn Mid-Atlantic LLC
  • GenOn REMA LLC
  • MORE

Abstract
Mirant Corp.'s (Mirant) 'B' corporate credit rating (CCR) and stable outlook reflect the consolidated credit profile of parent GenOn Energy Inc. (GenOn) and subsidiaries, including Mirant Americas Generating LLC (MAG), Mirant Mid-Atlantic LLC (MIRMA), and Reliant Energy Mid-Atlantic Power Holdings LLC (REMA). Mirant's hedges and PJM capacity payments provide GenOn a moderately hedged profile for the next few years: 67% and 60% of EBITDA is hedged or contracted for 2011 and 2012, respectively; GenOn remains the lowest leveraged independent power producer (IPP) at $259 per kilowatt (kW) overall and about $800/kW for baseload coal assets; Liquidity is strong and liquidity policy is conservative; The assets are favorably located in PJM, leading to strong capacity revenues; The merger between Mirant Corp...

Companies mentioned in this report are:
- GenOn Energy Holdings Inc.
- GenOn Americas LLC
- GenOn REMA LLC
- GenOn Mid-Atlantic LLC
- GenOn Energy Inc.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns READ MORE >

- GenOn Energy Holdings Inc.
- GenOn Americas LLC
- GenOn REMA LLC
- GenOn Mid-Atlantic LLC
- GenOn Energy Inc.

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