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BULLETIN: Standard & Poor's Views AES Corp. CEO Change as Neutral for Credit Jun 02
Standard & Poors, June 2002
Abstract
Standard & Poor's views the retirement of Dennis Bakke as chief executive officer of The AES Corp. and the appointment by the board of directors of Paul Hanrahan, formerly one of four chief operating officers, as his replacement as neutral for the credit. Mr. Hanrahan outlined a number of priorities in a conference call this morning that are credit-focused, including increasing liquidity, deleveraging the company through asset sales and equity issuances, and possibly selling or spinning off businesses in Latin America that are currently detracting from shareholder value. While the increased credit focus is encouraging, the future of the credit is dependant less upon plans and goals and more upon execution....
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.
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