| Title: | Covanta Energy Corp. |
| Price: | $400.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Full Report |
| Abstract: | Cash distributions from projects, which are mostly contracted with highly creditworthy municipal and county governments; Good operations history--average boiler availability is over 90%, well above the typical contractual requirement of 85%; The waste industry is generally recession resistant, and the Northeast, where the bulk of Covanta's plants are located, exhibits stable trends, with limited availability of landfills in close proximity; and Recent contract extensions contribute to cash flow stability. Highly leveraged financial profile in a capital intensive business; Potentially aggressive growth strategy; Substantial contingent obligations related to performance guarantees for waste-to-energy projects further limits its financial flexibility; and Although most of Covanta's electricity and tip fee revenue is under contract, a portion is not, which results in some sensitivity to |
| Brief Excerpt: | RESEARCH Ratings Definitions Covanta Energy Corp. Publication date: ##-Apr-#### Primary Credit Analyst: Chinelo Chidozie, New York (#) ###-###-####; chinelo_chidozie@standardandpoors.com Major Rating Factors Corporate Credit Rating... |
| Word Count: | 1173 |
| Ticker: | CVGYQ |
| Issuer: | Covanta Energy Corp. |
| GICS: | Independent Power Producers & Energy Traders (55105010) |
| Sector: | Global Issuers, Public Finance, Utilities, Electric |
| Country: | United States |
| Region: | United States |
| Format: | 
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