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AES Corp.'s Ratings Affirmed, Off CreditWatch Feb 99
Standard & Poors, Feb 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) Feb. 9, 1999 -- Standard & Poor's today affirmed its double-'B' corporate credit rating and its single-'B'-plus subordinated debt rating on AES Corp. Standard & Poor's also affirmed its single-'B'-plus rating on AES' trust preferred securities. All of the ratings were removed from CreditWatch, where they were placed on Nov. 23, 1998. AES has about $2.0 billion of debt and trust preferred securities outstanding. The CreditWatch removal follows Standard & Poor's conclusion that expected cash flow from AES' Brazilian investments over the next one to three years is likely to be well below original expectations. The recent devaluation of the Brazilian real will likely cause returns to AES to drop significantly for two reasons....
Companies mentioned in this report are: AES Corp. (The)
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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