AES Corp. Forges Ahead with Asset Sales Apr 03
- ID: 1833970
- April 2003
- Standard & Poors
NEW YORK (Standard & Poor's) April 3, 2003- In determining The AES Corp.'s 'B+' rating and negative outlook, Standard & Poor's Ratings Services has estimated parent operating cash flow/interest coverage in 2003 of between 1.5x and 1.7x and parent operating cash flow/debt of 14% to 15% given a range of projected distributions from subsidiaries from $900 million to $1 billion. Given AES' cash flow profile, these numbers are indicative of a credit in the 'B' category, according to a report published today by Standard & Poor's Ratings Services. Standard & Poor's assumes that AES will continue to make progress on its asset sales program. The proceeds will provide the majority of funds necessary to pay down 50%, or about $810...
Companies mentioned in this report are: AES Corp. (The)
Action: S&P Event
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