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BULLETIN: TransAlta Corp. Ratings Unaffected By First-Quarter Results Apr 06
Standard & Poors, April 2006
Abstract
TORONTO (Standard & Poor's) April 24, 2006--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 first-quarter results, which are consistent with expected performance. On a rolling 12-month basis, funds from operations (FFO) interest coverage continued its steady improvement of the last several quarters, reaching 4.3x as of March 31, 2006. FFO-to-average total debt also improved, reaching 24%. TransAlta's key credit metrics are expected to fluctuate from year to year as the company moves through cycles of bolstering the balance sheet followed by periods of growth-related, debt- and equity-financed capital spending on both greenfield projects and brownfield acquisitions. Although the acquisition in first-quarter...
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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