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AES Gener S.A. Rating Lowered to 'BBB-'; Guacolda 'BBB-' Rating Affirmed; Both Off Watch Aug 01
Standard & Poors, Aug 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) Aug. 2, 2001--Standard & Poor's today lowered its issuer credit rating and senior unsecured debt rating on AES Gener S.A. (Gener), a Chilean generation company, to triple-'B'-minus from triple-'B'. At the same time, Standard & Poor's affirmed its triple-'B'-minus issuer credit rating and senior secured debt rating on Empresa Electrica Guacolda S.A., a single-asset thermal generator that is 50% owned by Gener. Both companies' ratings have been removed from CreditWatch with negative implications where they were placed on Dec. 28, 2000. The outlooks for both are stable. The ratings had been on CreditWatch as a result of AES Corp.'s (double-'B'/Positive/--) acquisition of 98.5% of Gener. Guacolda's rating was affected since it has historically benefited...
Companies mentioned in this report are: AES Gener S.A.,AES Corp. (The),Empresa Electrica Guacolda S.A.
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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