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Vattenfall Long-Term Ratings Still on Watch Neg After News of Increased Stake in Bewag Dec 01

  • ID: 2027310
  • December 2001
  • Standard & Poors

Abstract
STOCKHOLM (Standard & Poor's) Dec. 3, 2001--Standard & Poor's said today that all long-term ratings--including the single-'A'-minus corporate credit rating--on Swedish utility Vattenfall AB and related entities remain on CreditWatch with negative implications. The CreditWatch update follows today's announcement that Vattenfall is to acquire U.S. Mirant Corp.'s (BBB-/Stable/A-3) 45% stake in German utility Bewag (not rated). The 'A-2' short-term ratings on all Vattenfall entities remain unchanged. Ratings on Vattenfall were placed on CreditWatch on Sept. 28, 2001, following the breakdown of the planned all-share transaction between Vattenfall and Mirant to merge Bewag and Vattenfall's German subsidiaries into a new electric utility constellation, the Neue Kraft group. Vattenfall has since continued the formation of Neue Kraft by integrating its subsidiaries, including...

Companies mentioned in this report are:
- Vattenfall AB
- GenOn Energy Holdings Inc.

Action: CreditWatch Update

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- Vattenfall AB
- GenOn Energy Holdings Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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