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Bulletin: Accounting Issues Continue To Dog AES; No Immediate Effect On Rating Feb 07
Standard & Poors, Feb 2007
Abstract
NEW YORK (Standard & Poor's) Feb. 27, 2007--Standard & Poor's Ratings Services said today that The AES Corp.'s (BB-/Stable/--) announcement that it would delay the release of its 2006 10-K, that it would restate previous financial statements because it has discovered certain errors mostly related to previously identified material weaknesses, and that it is reviewing its accounting for long-term compensation does not immediately affect the company's ratings or outlook. The review is not yet complete and AES has not yet determined the final amount of the adjustments, but at this time the company does not believe they will be material or will affect its cash balances. The restatements should not affect our view of the company's future credit quality, but...
Companies mentioned in this report are: AES Corp. (The)
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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