Research Update: Astoria Generating Co. Acquisitions LLC Second-Lien Credit Facility Upgraded To 'CCC'; On Watch Developing Dec 11
- Language: English
- Published: December 2011
There is increased uncertainty of electric capacity prices in New York Zone 'J' that support the U.S. electricity generator Astoria Generating Co. Acquisitions LLC's project obligations as reflected by the recent filing with the Federal Energy Regulatory Commission by Astoria Generating Co. L.P. (the project's owner), the NRG Companies, and TC Ravenswood LLC . We are placing the ratings on Astoria Generating Co. Acquisition LLC's credit facilities on CreditWatch with negative implications. NEW YORK (Standard & Poor's) June 16, 2011--Standard & Poor's Ratings Services said today it placed its 'BB-' rating on Astoria Generating Co. Acquisitions LLC's (Astoria Gen) $430 million ($141.7 million outstanding) first-lien term loan due 2013 and its $100 million first-lien working capital facility due 2012 on...
Companies mentioned in this report are: Astoria Generating Co. Acquisitions LLC
Action: On CreditWatch:Negative
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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Astoria Generating Co. Acquisitions LLC