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AES Corp. Ratings Remain on CreditWatch Positive Nov 00
Standard & Poors, Nov 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) Nov. 7, 2000--Standard & Poor's ratings on AES Corp. remain on CreditWatch with positive implications where they were placed on July 17, 2000. AES Corp. announced that it has issued a tender offer for up to 80% of the outstanding shares of Gener S.A. (triple-'B'-plus, Watch Dev/--), Chile's second-largest electricity generator. The tender offer is for all outstanding American Depositary Shares in exchange for AES common stock having a value of US$16 per, and for 3.466 billion Gener shares at the Chilean peso equivalent of approximately US$0.235 per share in cash. The total value of the offer is approximately US$1.056 billion (US$816 million in cash and US$240 million in stock). Completion of the deal...
Companies mentioned in this report are: AES Corp. (The),AES Gener S.A.,Total S.A.
Action: Affirmed
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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