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AES Corp. 'BB-' Credit Rating Affirmed On Annual Review, Outlook Stable Jan 09
Standard & Poors, Jan 2009
Abstract
NEW YORK (Standard & Poor's) Jan. 22, 2009--Standard & Poor's Ratings Services affirmed its 'BB-' corporate credit rating on global power developer AES Corp. The affirmation follows the conclusion of our annual review. The outlook is stable. The ratings on AES 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). Ratings reflect a combined effect of recessionary conditions across a number of markets in which AES operates, volatility in cash flow from currency depreciation, a growth strategy that relies heavily on debt, and recent weakness in the commodity markets. Other risks include a material increase in corporate...
Companies mentioned in this report are: AES Corp. (The)
Action: Affirmed
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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