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Bulletin: Entergy Corp.'s Ratings Unchanged Re: Proposed Asset Sale Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 5, 2011--Standard & Poor's Ratings Services said today that Entergy Corp.'s (BBB/Negative/--) proposal to spin off its electric transmission assets in a tax-free transaction to ITC Holdings Corp. has no near-to-intermediate term effect on ratings and credit quality. If the transaction is successful, Entergy's business risk will increase somewhat to reflect the reduced contribution of the regulated part of the business. However, we expect that Entergy will use all proceeds to support its capital structure thereby offsetting the increase in business risk, including paying off debt related to the transmission assets, and supporting liquidity....
Companies mentioned in this report are: Entergy Corp.,ITC Holdings 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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