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Recovery Report: AES Corp.'s Recovery Rating Profile Mar 10 Product Image

Recovery Report: AES Corp.'s Recovery Rating Profile Mar 10

  • Published: March 2010
  • Standard & Poors

FEATURED COMPANIES

Abstract
On March 5, 2010, Standard & Poor's Ratings Services affirmed the 'BB-' rating on AES Corp.'s parent-level recourse $4.2 billion senior unsecured notes due 2011 through 2017 and revised the recovery ratings on the notes to '3' from '4', indicating expectations of meaningful (50%-70%) recovery of principal in a payment default scenario. About $690 million of second-lien secured notes are rated 'BB+' with a recovery score of '1', indicating very high recovery (90%-100%) of principal. Standard & Poor's opinion on bankruptcy recovery prospects is reflected in the differences between the unsecured debt ratings and AES' 'BB-' corporate credit rating. A $200 million first-priority senior secured-term facility and a $785 million senior first-priority secured revolver facility, both due 2011, are unrated....

Companies mentioned in this report are: AES Corp. (The)

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AES Corp. (The)

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