- Language: English
- 64 Pages
- Published: March 2012
- Region: Argentina
Research Update: Calpine Corp.'s $360 Million Senior Secured Facility Assigned 'B+' Rating Jun 11
- Published: June 2011
- Standard & Poors
Standard & Poor's Ratings Services today assigned its 'B+' rating to Calpine Corp.'s (Calpine; B/Stable/--) proposed $360 million senior secured term loan credit facility due 2018. The term loan was assigned a recovery rating of '2'. The proceeds will be used to refinance project finance debt at Deer Park Energy Center LLC and Metcalf Energy Center LLC. Debt at these subsidiaries is currently not rated but is consolidated into Calpine's finances as part of Calpine's 'B' corporate credit rating. On June 7, 2011, Standard & Poor's Ratings Services assigned its 'B+' rating to Calpine Corp.'s proposed $360 million senior secured term loan credit facility due 2018. The loan was assigned a recovery rating of '2', indicating our expectation for substantial...
Companies mentioned in this report are: Calpine Corp.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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