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AES Gener S.A. US$300 Million 144A Bonds Assigned 'BB+' Preliminary Rating Feb 04
Standard & Poors, Feb 2004
Abstract
NEW YORK (Standard & Poor's) Feb. 25, 2004--Standard & Poor's Ratings Services assigned its preliminary 'BB+' rating to AES Gener S.A.'s proposed US$300 million long-term 144A bonds to be issued in March 2004. Upon successful issuance of the bonds, Standard & Poor's expects to remove the company's 'B' corporate credit rating from CreditWatch and raise the rating to 'BB+' with a stable outlook. The current CreditWatch positive status reflects the potential success of the company's debt restructuring plan. AES Gener is the second-largest generator in the Chilean electricity market, accounting for about 22% of the country's total generating capacity, with an installed capacity of 2,429 MW. AES Gener is 98.65% indirectly owned by AES Corp., the U.S.-based multiutility. AES Gener...
Companies mentioned in this report are: AES Gener S.A.,AES Corp. (The)
Action: New Rating
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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