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AES Corp. Tries to Beat the Refinancing Curve Oct 02
Standard & Poors, Oct 2002
Abstract
NEW YORK (Standard & Poor's) Oct. 29, 2002--Standard & Poor's Ratings Services believes that the largest credit concern in the energy merchant sector today is liquidity and refinancing risk. Recently, Standard & Poor's estimated the volume of refinancing needs in the sector to be about $30 billion to $50 billion between now and 2006. As energy companies struggle with upcoming maturities, they are being forced to pay higher interest rates, offer security, or both. U.S.-based electricity provider AES Corp. is no exception, and is one of the first of many players that will be forced to address these concerns. Its recent announcement of a proposed bank/bond transaction that would lock up virtually its entire asset base as security in exchange...
Companies mentioned in this report are: AES Corp. (The),CILCORP Inc.,Ameren Corp.,NewEnergy Inc.
Action: S&P Event
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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