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AES Corp. Forges Ahead with Asset Sales Apr 03 Product Image

AES Corp. Forges Ahead with Asset Sales Apr 03

  • Published: 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

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, READ MORE >

AES Corp. (The)

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