- Language: English
- Published: January 2012
Research Update: Ratings On AES Eastern Energy's Certificates, Working Capital Are Affirmed; Outlook Stable May 06
- ID: 1833113
- May 2006
- Standard & Poors
On May 3, 2006 Standard & Poor's Ratings Services affirmed the 'BB+' rating on AES Eastern Energy L.P.'s (AEE) $550 million pass-through certificates and $75 million working-capital facility. The outlook is stable. AEE is a wholly owned subsidiary of AES New York Funding LLC and AES NY2, which are wholly owned by The AES Corp. (AES; BB-/Stable/--). AEE owns and operates four coal-fired generation assets, representing 1,268 MW of electric generation capacity in western New York. The 'BB+' rating on AEE's $550 million pass-through certificates due 2029 and on its $75 million bank loan reflects AEE's stand-alone credit quality. It is also constrained at a level one notch above its current rating by the rating of its 100% owner, AES....
Companies mentioned in this report are: AES Eastern Energy L.P.,AES Corp. (The)
Action: Outlook: Stable
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.
AES Eastern Energy L.P.,AES Corp. (The)