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Gener S.A., Guacolda Ratings Placed on CreditWatch with Negative Implications Dec 00 Product Image

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.,AES Corp. (The)
Action: On CreditWatch:Negative

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
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