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Bulletin: TransAlta Corp. Ratings Unaffected By Fourth-Quarter Results Jan 07
Standard & Poors, Jan 2007
Abstract
TORONTO (Standard & Poor's) Jan. 26, 2007--Standard & Poor's Ratings Services today said that its ratings on electricity generation company TransAlta Corp. (BBB/Stable/--) and TransAlta Utilities Corp. (BBB/Stable/--) are unaffected by the company's fourth-quarter results. Although earnings were significantly and negatively affected by impairments related to the shutdown of the Centralia mining operation in late 2006, cash flow strength remained consistent with forecast performance. On a rolling 12-month basis, adjusted funds from operations (FFO) interest coverage was consistent with the previous three quarters and improved as expected from 2005 levels. Adjusted FFO-to-average total debt was also better than in 2005. In 2007 minor capital spending on growth should resume and is likely to ramp up. Firm growth plans include a...
Companies mentioned in this report are: TransAlta Corp.,TransAlta Utilities Corp
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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