Gener S.A., Guacolda Ratings Placed on CreditWatch with Negative Implications Dec 00
- ID: 1833339
- December 2000
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) Dec. 28, 2000--Standard & Poor's today placed its triple-'B'-plus rating on Gener S.A., a Chilean generation company, and its triple-'B'-minus rating on Empresa Electrica Guacolda S.A., a single-asset thermal generator that is 50% owned by Gener, on CreditWatch with negative implications. The ratings had been on CreditWatch with developing implications, where they were placed on Oct. 9, 2000 as a result of acquisition interest in Gener. Guacolda's rating is affected since it benefits from its affiliation with Gener. This action reflects AES Corp.'s (double-'B', CreditWatch positive/--) acquisition of 61.57% of Gener on the Santiago stock exchange auction for US$841 million. On Dec. 12, 2000, Gener's shareholders approved the removal of an ownership limit on...
Companies mentioned in this report are:
- AES Gener S.A.
- The AES Corp.
Action: On CreditWatch:Negative
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