- Language: English
- Published: February 2013
- Region: Iraq
Summary: AES Corp. (The) Oct 08
- Published: October 2008
- Standard & Poors
The ratings on electric power developer The AES Corp. reflect its reliance on substantive distributions in jurisdictions with considerable regulatory and operating uncertainties, as well as its exposure to merchant power markets, most notably through subsidiary AES Eastern Energy L.P. (BB+/Stable/--). The ratings also reflect large growth expenditure requirements and a significant increase in corporate overheads. While residual distributions from project investments and dividends from operating subsidiaries partly service these requirements, AES requires financing for its growth, which should be funded in a credit-neutral manner. We believe that the significant investment requirements will likely entail new debt and will slow the improving credit quality of the past two years. Partly mitigating these weaknesses are the benefits of regional and operational...
Companies mentioned in this report are: AES Corp. (The)
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AES Corp. (The)