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BULLETIN: AES Corp.'s Restatement Will Not Affect Ratings Or Outlook Mar 05
Standard & Poors, March 2005
Abstract
NEW YORK (Standard & Poor's) March 17, 2005--Standard & Poor's Ratings Services said today that The AES Corp.'s (B+/Positive/--) announcement that it would delay the filing of its 2004 10-K will not affect the company's ratings or outlook. The company is delaying the filing because it requires additional time to complete a restatement of its 2002 and 2003 financial statements that was required primarily due to an error in 2002 relating to the recording of deferred taxes on the pension liability for its Brazilian utility, Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. In addition, AES plans to restate its 2002 and 2003 financial statements for a balance-sheet reclassification involving the allocation of foreign currency translation adjustments to the minority shareholders...
Companies mentioned in this report are: AES Corp. (The),Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A.
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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