BULLETIN: Calpine Corp.'s Power Contract Sale Is In Line With Expectations - S&P Global Ratings’ Credit Research

BULLETIN: Calpine Corp.'s Power Contract Sale Is In Line With Expectations

BULLETIN: Calpine Corp.'s Power Contract Sale Is In Line With Expectations - S&P Global Ratings’ Credit Research
BULLETIN: Calpine Corp.'s Power Contract Sale Is In Line With Expectations
Published May 26, 2004
Published May 26, 2004
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Abstract:

NEW YORK (Standard&Poor's) May. 26, 2004--Standard&Poor's Ratings Services said today that Calpine Corp.'s (B/Negative/--) sale of its power contract related to the 118-MW Parlin and 58-MW Newark power plants in New Jersey will slightly strengthen the San Jose, Calif.-based company's liquidity at the expense of some long-term revenue stability. However, this is in keeping with Calpine's stated plan to sell some of its qualifying facilities, or monetize the contracts. With this sale, Calpine raised $101 million in cash, after transaction costs and a payment to retire approximately $79 million of non-recourse project debt. Calpine sold the contract to Morgan Stanley Capital Group Inc.

  
Report Type:

Bulletin

Ticker
CPN
Issuer
Calpine Corp.
GICS
Independent Power Producers & Energy Traders (55105010)
Sector
Asset-Backed Securities , Electric , Global Issuers , Structured Finance , Utilities
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "BULLETIN: Calpine Corp.'s Power Contract Sale Is In Line With Expectations" May 26, 2004. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/BULLETIN-Calpine-Corp-s-Power-Contract-Sale-Is-In-Line-With-Expectations-376504>
  
APA:
S&P Global Ratings’ Credit Research. (). BULLETIN: Calpine Corp.'s Power Contract Sale Is In Line With Expectations May 26, 2004. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/BULLETIN-Calpine-Corp-s-Power-Contract-Sale-Is-In-Line-With-Expectations-376504>
  
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