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Bulletin: Earthquake In Chile Did Not Affect AES Corp.'s And AES Gener S.A.'s Ratings Mar 10
Standard & Poors, March 2010
Abstract
NEW YORK (Standard & Poor's) March 4, 2010--Standard & Poor's Ratings Services noted today that the operations of AES Gener S.A. (BBB-/Negative/--), AES Corp.'s (BB-/Positive/--) Chilean subsidiary, have not been significantly affected following the earthquake. AES owns 71% of Gener, which accounted for about 9% of AES's distributions in 2009. We expect Gener's distributions to double once ongoing expansions at Angamos (and the delayed Campiche unit) are brought on line. About 545 megawatts of generation capacity, mostly comprising Ventanas 1 and Nueva Ventanas, are being inspected for damages. At this point, AES expects the units to return to service during the next 10 days. Importantly, Gener expects existing operating capacity to meet demand even at pre-quake levels and believes that...
Companies mentioned in this report are: AES Corp. (The),AES Gener S.A.
Action: Bulletin
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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