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Calpine Corp. $850 Million Convertible Debentures Rated 'BB+'

Published Apr 25, 2001

1361 words — Published Apr 25, 2001

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About This Report

Abstract:

NEW YORK (Standard&Poor's CreditWire) April 25, 2001--Standard&Poor's today assigned its double-'B'-plus rating to Calpine Corp.'s $850 million convertible debentures (CARZ). In addition, Standard&Poor's affirmed all of its ratings on Calpine and its debt. The ratings include: Calpine's double-'B'-plus corporate credit rating, its double-'B'-plus rating on the company's $3.7 billion senior-unsecured debt, and its single-'B'-plus rating on Calpine's $1.12 billion convertible preferred securities and its double-'B'-plus rating on Calpine Canada's $1.5 billion of senior-unsecured debt. The outlook is stable. The issuance of the bonds will have a slightly negative effect on Calpine's credit profile. Calpine will use $717 million of the $850 million CARZ to refinance existing project finance debt at 10 of its generation

Brief Excerpt:

RESEARCH Calpine Corp. $850 Million Convertible Debentures Rated '##+' Publication date: 25-Apr-2001 NEW YORK (Standard & Poor's CreditWire) April 25, 2001--Standard & Poor's today assigned its double-'B'-plus rating to Calpine Corp.'s...

Report Type:

Ratings Action

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:

HTML

Calpine Corp.'s $2 Billion Debt Issuance Rated 'BB+'; Outlook Stable – 2001/10/02 – US$ 150.00

Calpine Corp. – 2001/10/03 – US$ 500.00

Summary: Calpine Corp. – 2001/10/03 – US$ 225.00

S&P Correct: Calpine Corp. $400 Million Convertible Debentures Rated 'BB+' – 2001/12/19 – US$ 150.00

BULLETIN: Calpine's Creditworthiness Unaffected by Its Decision to Slow Construction – 2002/01/16 – US$ 150.00

BULLETIN: PG&E Corp Bankruptcy Filing Has Minimal Effect on Calpine Corp.'s Credit – 2001/04/06 – US$ 150.00

Calpine Corp. 'BB+' Rating Affirmed on Encal Energy Buy – 2001/02/13 – US$ 150.00

Bulletin: Calpine Corp. Has Higher-Than-Expected Earnings – 2001/01/09 – US$ 150.00

Calpine Corp. 'BB+' Rating Affirmed Despite California Power Exposure – 2000/12/21 – US$ 150.00

Calpine Corp $366M Pass-Through Certificates Rated 'BB+' – 2000/12/12 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Calpine Corp. $850 Million Convertible Debentures Rated 'BB+'" Apr 25, 2001. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Corp-850-Million-Convertible-Debentures-Rated-BB-191696>

APA:	S&P Global Ratings’ Credit Research. (). Calpine Corp. $850 Million Convertible Debentures Rated 'BB+' Apr 25, 2001. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Corp-850-Million-Convertible-Debentures-Rated-BB-191696>

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