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| Brief Excerpt: | ...Introduction: Fitch Ratings presents the fifth edition of its U.S. Competitive Generators Handbook, which provides an overview of the competitive power generation landscape in the U.S. and profiles generation companies (gencos) in Fitch's rated universe. The genco sector consists of affiliates of regulated utilities (affiliated gencos), independent power producers (IPPs) and yieldcos. Each company report in the handbook includes rating or credit opinion rationales and drivers, along with debt structures and financial summary information. Ratings Disparity Among Gencos: The affiliated gencos typically operate within a larger holding company structure and generally have strong investment-grade credit metrics, such as PSEG Power LLC (BBB+/Stable), Southern Power Company (BBB+/Negative) and Exelon Generation Co. LLC (ExGen, BBB/Stable). IPPs such as Calpine Corporation (B+/Stable) and Vistra Energy Corp. (BB/Positive) are viewed as riskier and typically rated below investment grade. Yieldcos... |
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| Company(ies) | Southern Power Company
, Calpine Corporation
, Exelon Corporation
, PSEG Power LLC
, CONSTELLATION ENERGY GENERATION, LLC
, Public Service Enterprise Group Inc.
, The Southern Company
, NRG Energy, Inc.
, Ohio Valley Electric Corporation
, TransAlta Corporation
, XPLR Infrastructure, LP
, TerraForm Power Operating LLC
, Atlantica Sustainable Infrastructure Limited
, Algonquin Power & Utilities Corp
, Vistra Corp.
, Liberty Power Co |
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| Format: | | PDF |  |
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