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BULLETIN: AES' Financial Restatements Will Not Affect Credit Jul 05
Standard & Poors, July 2005
Abstract
NEW YORK (Standard & Poor's) July 28, 2005--Standard & Poor's Ratings Services said today that The AES Corp.'s (B+/Positive/--) announcement that it would restate its 2002, 2003, 2004, and first-quarter 2005 financial statements will not affect the company's ratings or outlook. AES stated that as part of its remediation plan associated with the material weakness in internal control over financial reporting related to deferred taxes, it retained an independent registered public accounting firm to assist the company with its review of its controls and processes. The review is not yet complete and AES has not yet determined the final amount and nature of the adjustments. The restatements are not expected to affect Standard & Poor's view of future credit quality,...
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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