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AES Corp.'s (The) $450 million Senior Notes Rated 'BB' May 99
Standard & Poors, May 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) May 28, 1999-- Standard & Poor's today assigned its double-'B' rating to AES Corp.'s $450 million senior notes due 2009. The outlook is stable. Proceeds from this issuance will be used to repay an outstanding term loan of $500 million. AES Corp.'s corporate credit rating reflects following risks: -- Limited financial flexibility. AES' ability to maintain and grow its business is dependent on its ability to raise funds for new projects, acquisitions and refinancings both at the project and corporate levels; -- Recent events, specifically at some of its Brazil investments, posed a challenge to AES but the company was able to repay outstanding loans by paying down a portion and refinancing a portion;...
Companies mentioned in this report are: AES Corp. (The)
Action: New Rating
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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