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AES Red Oak LLC Bond Rating Outlook Changed To Stable Jul 04
Standard & Poors, July 2004
Abstract
NEW YORK (Standard & Poor's) July 30, 2004--Standard & Poor's Ratings Services changed its outlook on AES Red Oak LLC's $384 million senior secured bonds (currently approximately $374.6 million outstanding) to stable from negative, following the change of outlook by Standard & Poor's on the ratings of The Williams Companies (B+/Stable/--) to stable from negative. AES Red Oak is a combined-cycle, natural gas-fired generating station located in Middlesex County, N.J. with a plate capacity of 830 MW. AES Red Oak is 100% indirectly owned by The AES Corp. (B+/Stable/--). The project currently has a 20-year power purchase agreement (PPA) with Williams Power Company Inc. (formerly known as Williams Energy Trading and Marketing Co), whose obligations under the PPA are guaranteed...
Companies mentioned in this report are: AES Red Oak LLC,Williams Cos. Inc. (The),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.
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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