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NRG Energy Inc.'s Senior Secured Facilities Assigned 'BB+' Rating Jun 11 Product Image

NRG Energy Inc.'s Senior Secured Facilities Assigned 'BB+' Rating Jun 11

  • ID: 1817415
  • June 2011
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) June 8, 2011-- Standard & Poor's Ratings Services today assigned its 'BB+' rating to the proposed $3.9 billion senior secured credit facilities at NRG Energy (NRG). The recovery rating is '1', indicating very high (90% to 100%) recovery expectations in the event of a payment default. At this level, debt issues are rated two notches above the company's 'BB-' corporate credit rating. The proposed credit facilities consist of a $1.6 billion term loan maturing in 2018 and a $2.3 billion revolving credit facility maturing 2016. The $1.6 billion term loan will be used to refinance the outstanding balance of the US$3.575 billion term loan due February 2013. The $2.3 billion revolving credit facility will replace...

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.

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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