- Language: English
- 90 Pages
- Published: November 2011
- Region: Serbia
Summary: Northeast Generation Company Oct 04
- Published: October 2004
- Standard & Poors
Standard & Poor's Ratings Services 'BB+' rating on Northeast Generation Co.'s (NGC) senior secured bonds reflects the near-term expiration of the current Select Energy Inc. (Select) contract and the potential that Select may not extend the contract on terms favorable to the NGC bondholders. Under a merchant scenario where natural gas prices remain low ($3.75 per million Btu), NGC's debt service coverage ratio (DSCR) could fall to 1x. NGC, like Select, is an indirect wholly owned subsidiary of Northeast Utilities (NU; BBB+/Negative/--). It owns, operates, and maintains a portfolio of 1,292 MW of generating assets and firm capacity located in the New England region. The assets are comprised of various generating resources, the majority of which is a 1,080-MW, pumped-storage...
Companies mentioned in this report are: FirstLight Hydro Generating Co.,Northeast Utilities
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
FirstLight Hydro Generating Co.,Northeast Utilities