NRG Energy Inc.'s Senior Secured Facilities Assigned 'BB+' Rating Jun 11
- ID: 1817415
- June 2011
- Standard & Poors
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
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Research type: News
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