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AES Corp. Corporate Credit Rating Affirmed; Off CreditWatch Dec 02
Standard & Poors, Dec 2002
Abstract
NEW YORK (Standard & Poor's) Dec. 13, 2002--Standard & Poor's Ratings Services today affirmed its 'B+' corporate credit rating on The AES Corp. (AES). At the same time Standard & Poor's lowered its ratings on all of AES' senior unsecured debt to 'B-' from 'B+'; affirmed the 'BB' rating on AES' $1.62 billion senior secured bank facility and $350 million senior secured exchange notes; affirmed the 'B-' rating on AES' subordinated notes; and affirmed the 'CCC+' rating on AES' trust preferred securities. All ratings have been removed from CreditWatch where they were placed with negative implications on Oct. 3, 2002. The outlook is negative. The affirmation comes as AES has announced the closing of its senior secured bank facility and...
Companies mentioned in this report are: AES Corp. (The),Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A.
Action: Affirmed, Off CreditWatch
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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