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BULLETIN: AES Credit Facility Amendment Enhances Credit Quality Aug 04
Standard & Poors, Aug 2004
Abstract
NEW YORK (Standard & Poor's) Aug. 13, 2004--Standard & Poor's Ratings Services said today that it is maintaining its 'B+' issuer credit rating and stable outlook on The AES Corp. Standard & Poor's noted, however, that the announcement that the company had amended its $650 million credit facilities to reduce the interest rate on the $450 revolving credit facility to LIBOR plus 250 basis points (from LIBOR plus 400) and the rate on the $200 million term loan to LIBOR plus 225 basis points (from LIBOR plus 400) enhances credit quality. The term loan maturity date also was extended from 2007 to 2011. In addition to the savings in interest costs, the amendment demonstrates an increasing access to the capital...
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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