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BULLETIN: AES Asset Purchases Do Not Affect Credit Jan 05
Standard & Poors, Jan 2005
Abstract
NEW YORK (Standard & Poor's) Jan. 12, 2005--Standard & Poor's Ratings Services said today that the announcement by The AES Corp. (B+/Positive/--) that it has entered into an agreement to acquire SeaWest Holdings Inc., a privately-owned wind generation operating and development company based in San Diego, Calif. for about $60 million in cash, and that it would acquire and construct SeaWest's 120 MW Buffalo Gap wind generation project near Abilene, Texas, at an estimated cost of $165 million, does not affect the company's rating or outlook. Standard & Poor's had expected AES to begin investing in new businesses again, and how these investments are financed together with their risk profile will determine any future ratings implications. Credit metrics are more...
Companies mentioned in this report are: AES Corp. (The)
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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