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Bulletin: Calpine Corp. New Share Buyback Plan Has No Impact On Rating

Published Nov 07, 2013

826 words — Published Nov 07, 2013

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Abstract:

NEW YORK (Standard&Poor's) Nov. 7, 2013--U.S. independent power producer Calpine Corp. (B+/Stable/--) has announced a $1 billion multi-year share buyback program. The proposed program doesn't affect the rating at this time. We think that Calpine will fund the program essentially with operating cash flow or liquidity but not by issuing debt. We also think that Calpine will generally maintain its current liquidity position, which we consider as "adequate", while undertaking share repurchases.

Brief Excerpt:

RESEARCH Bulletin: Calpine Corp. New Share Buyback Plan Has No Impact On Rating Publication date: 07-Nov-2013 Primary Credit Analyst: Terry A Pratt, New York (1) 212-438-2080; terry.pratt@standardandpoors.com Secondary Contact: Aneesh...

Report Type:

Bulletin

Ticker

CPN

Issuer

Calpine Corp.

GICS

Independent Power Producers & Energy Traders (55105010)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

HTML

Summary: Calpine Corp. – 2014/05/13 – US$ 225.00

Calpine Corp. – 2014/06/23 – US$ 500.00

Summary: Calpine Corp. – 2014/06/23 – US$ 225.00

Calpine Corp.'s Proposed Senior Unsecured Debt Rated 'B'; Senior Secured Debt Raised To 'BB'; Outlook Stable – 2014/07/08 – US$ 150.00

Research Update: Calpine Corp.'s Proposed Senior Unsecured Debt Rated 'B'; Senior Secured Debt Raised To 'BB'; Outlook Stable – 2014/07/08 – US$ 225.00

Summary: Calpine Corp. – 2013/10/01 – US$ 225.00

Calpine Construction's Planned $1.055 Billion Term Loan Is Rated 'BB' (Recovery Rating: '1') – 2013/04/26 – US$ 150.00

Research Update: Calpine Construction Finance's Planned $1.055 Billion Term Loan Rated 'BB' (Recovery Rating: '1') – 2013/04/26 – US$ 225.00

Calpine Corp. – 2012/11/27 – US$ 500.00

Summary: Calpine Corp. – 2012/11/27 – US$ 225.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Calpine Corp. New Share Buyback Plan Has No Impact On Rating" Nov 07, 2013. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Calpine-Corp-New-Share-Buyback-Plan-Has-No-Impact-On-Rating-1213841>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Calpine Corp. New Share Buyback Plan Has No Impact On Rating Nov 07, 2013. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Calpine-Corp-New-Share-Buyback-Plan-Has-No-Impact-On-Rating-1213841>

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