GenOn Energy Inc. Assigned 'B' Corporate Credit Rating; Outlook Stable Dec 10
Standard & Poors, December 2010
Abstract
SAN FRANCISCO (Standard & Poor's) Dec. 17, 2010--Standard & Poor's Ratings Services today assigned its 'B' corporate credit rating (CCR) to GenOn Energy Inc. (GenOn) and its 'BB-' rating to the $700 million secured-term loan and $788 million secured revolving credit facility at GenOn. We are also taking all related rating actions on GenOn Escrow Corp., Mirant Corp. (Mirant), and RRI Energy Inc. (RRI) that were announced on Sept. 8, 2010. These actions follow the completion of the merger between RRI and Mirant to form GenOn. All ratings are off CreditWatch and have a stable outlook. One other piece of the reorganization that is expected to be complete by Dec. 31, 2010 pertains to Reliant Energy Mid-Atlantic Power Holdings LLC...
Companies mentioned in this report are:
- GenOn Energy Inc.
- GenOn Energy Holdings Inc.
- RRI Energy Inc.
- GenOn Escrow Corp.
Action: Removed From CreditWatch
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.
- GenOn Energy Inc.
- GenOn Energy Holdings Inc.
- RRI Energy Inc.
- GenOn Escrow Corp.
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