Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To 'BB-' - S&P Global Ratings’ Credit Research

Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To 'BB-'

Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To 'BB-' - S&P Global Ratings’ Credit Research
Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To 'BB-'
Published Sep 30, 2011
1247 words — Published Sep 30, 2011
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About This Report

  
Abstract:

SAN FRANCISCO (Standard&Poor's) Sept. 30, 2011--Standard&Poor's Ratings Services today raised Calpine Corp.'s (Calpine) corporate credit rating to 'B+' from 'B'. We also raised the rating on secured debt at Calpine Corp. to 'BB-' from 'B+'. The '2' recovery rating on the secured debt is affirmed, indicating expectations for substantial recovery of principal (70% to 90%) in the event of a payment default. The outlook is stable. We also revised the company's business profile to "fair" from "weak", while the financial profile remains "highly leveraged". The rating upgrade reflects several factors that benefit both the business and financial profiles of the company. These include the acquisition of the Connectiv assets in June 2010, which added capacity revenues

  
Brief Excerpt:

RESEARCH Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To '##-' Publication date: 30-Sep-2011 Primary Credit Analyst: Swaminathan Venkataraman, San Francisco (1) 415-371-5071; Swami_Venkataraman@standardandpoors.com...

  
Report Type:

Ratings Action

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

  
MLA:
S&P Global Ratings’ Credit Research. "Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To 'BB-'" Sep 30, 2011. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Corp-s-Corporate-Credit-Rating-Raised-To-B-And-Secured-Debt-Raised-To-BB-896047>
  
APA:
S&P Global Ratings’ Credit Research. (). Calpine Corp.'s Corporate Credit Rating Raised To 'B+' And Secured Debt Raised To 'BB-' Sep 30, 2011. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Corp-s-Corporate-Credit-Rating-Raised-To-B-And-Secured-Debt-Raised-To-BB-896047>
  
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