Calpine Corp. - S&P Global Ratings’ Credit Research

Calpine Corp.

Calpine Corp. - S&P Global Ratings’ Credit Research
Calpine Corp.
Published Jul 27, 2010
Published Jul 27, 2010
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Diverse and efficient fleet of gas-fired generation; Well-positioned in gas-dominated markets such as California, Texas, and the Northeast; Baseload assets that should support heat rate recovery when the economy improves, due to high costs of and difficulty associated with permitting new power plants; Young, standardized fleet that provides operational cost advantages; 50% cash flow sweep that supports deleveraging; Growth of renewables that may be a positive if backup generation is needed; and Gas and geothermal fleet that positions Calpine well for potential climate change legislation as well as other pollutant issues. Weak merchant market conditions, albeit with a substantially hedged position for 2010 and 2011 that largely eliminates covenant concerns; Substantial exposure to gas prices and market heat rates in

  
Report Type:

Full Report

Ticker
Issuer
GICS
Independent Power Producers & Energy Traders (55105010)
Sector
Global Issuers , Structured Finance
Country
Region
Format:
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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. "Calpine Corp." Jul 27, 2010. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Corp-811539>
  
APA:
S&P Global Ratings’ Credit Research. (). Calpine Corp. Jul 27, 2010. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Corp-811539>
  
US$ 500.00
$  £  
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