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Capital Power Income L.P. On CreditWatch Neg Following Atlantic Power Corp. Plan To Acquire Capital Power Income L.P. Jun 11
Standard & Poors, June 2011
Abstract
We are placing our 'BBB' long-term corporate credit ratings on Capital Power Income L.P. (CPI) and CPI Preferred Equity Ltd. (CPIPE) on CreditWatch with negative implications. At the same time, we are placing our 'BBB' issue-level ratings on CPI's and Curtis Palmer LLC's senior unsecured debt, and our 'BB' global scale and 'P-3(High)' Canada scale ratings on CPIPE's preferred shares on CreditWatch with negative implications. These rating actions follow the June 20, 2011, joint announcement by CPI and Atlantic Power Corp. (ATP, not rated) of an agreement for ATP to acquire CPI, subject to a favorable vote by CPI's unitholders and ATP's shareholders and the necessary regulatory approval. We expect the transaction to be completed in fourth-quarter 2011. The rating...
Companies mentioned in this report are: Atlantic Power Limited Partnership
Action: On CreditWatch:Negative
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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