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AES Corp. 'BB' Rating Remains on CreditWatch Positive Jan 01

  • ID: 1833860
  • January 2001
  • Standard & Poors
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  • AES Gener S.A.
  • The AES Corp.
  • MORE

NEW YORK (Standard & Poor's CreditWire) Jan. 2, 2001--Standard & Poor's today announced that AES Corp.'s double-'B' rating remains on CreditWatch with positive implications where it was placed on July 17, 2000. The affirmation follows AES Corp.'s issuance of $300 million of senior unsecured notes due December 2002. According to AES the proceeds of the issue will be used to help fund the purchase of the Chilean utility Gener (triple-'B'-plus/Watch Neg/--) and for general corporate purposes. The additional debt does not have a significant impact on AES' consolidated capital structure, which includes more than $13 billion in nonrecourse project financing debt. Recourse debt as a percentage of adjusted capitalization (i.e., total capitalization minus nonrecourse debt) will increase slightly to 41%...

Companies mentioned in this report are:
- The AES Corp.
- AES Gener 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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- The AES Corp.
- AES Gener S.A.

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