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Summary: GenOn Energy Inc. Dec 11

  • ID: 2034175
  • December 2011
  • Standard & Poors
1 of 3

FEATURED COMPANIES

  • AES Eastern Energy L.P.
  • Calpine Corp.
  • Dynegy Holdings LLC
  • Edison Mission Energy
  • GenOn Energy Inc.
  • GenOn Mid-Atlantic LLC
  • MORE

Abstract
Standard & Poor's Ratings Services revised its outlook to negative from stable on GenOn Energy Inc.'s (GenOn) 'B' corporate credit rating on Dec. 13, 2011. Secured lease debt at GenOn Mid-Atlantic LLC, unsecured debt at GenOn Americas Generation (GenAm), and the secured term loan and revolving credit facility at GenOn all carry a '1' recovery rating, implying very high (90% to 100%) recovery expectations in the event of a payment default. At this level, all of these debt issues are rated two notches above GenOn's 'B' corporate credit rating. The $2.525 billion in unsecured notes at GenOn have a recovery rating of '4', indicating average (30% to 50%) recovery of principal in the event of a default. At this level,...

Companies mentioned in this report are:
- GenOn Energy Inc.
- Energy Future Holdings Corp.
- Edison Mission Energy
- Calpine Corp.
- Dynegy Holdings LLC
- NRG Energy Inc.
- AES Eastern Energy L.P.
- GenOn Mid-Atlantic LLC

Action: Outlook Revised

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- GenOn Energy Inc.
- Energy Future Holdings Corp.
- Edison Mission Energy
- Calpine Corp.
- Dynegy Holdings LLC
- NRG Energy Inc.
- AES Eastern Energy L.P.
- GenOn Mid-Atlantic LLC

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown