|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: AES Announces Earnings Warning Sep 01
Standard & Poors, Sep 2001
Abstract
Last night's earnings warning by The AES Corp. (BB/Watch Neg/--) will not affect Standard & Poor's 'BB' rating on AES, but diminishes the likelihood that the outlook will return to positive following the resolution of AES' outstanding tender offer for Venezuelan telecommunications company CANTV (B/Stable/--). According to AES, the lower earnings are a result of the weakening Brazilian Real, continued lower than forecast prices in the U.K. power pool, and the failure to acquire the Mohave plant. Standard & Poor's incorporates the potential volatility in AES' cash flows due to currency fluctuations and merchant exposure in the U.K. in the 'BB' rating. Furthermore, when rating developers, Standard & Poor's gives no credit to projected cash flows from development projects that...
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, 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.
|
|
|
|
