Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut - S&P Global Ratings’ Credit Research

Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut

Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut - S&P Global Ratings’ Credit Research
Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut
Published Mar 14, 2006
376 words — Published Mar 14, 2006
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) March 14, 2006--Standard&Poor's Ratings Services said today that its ratings on power generation company Calpine Corp. remain at 'D' because the company filed for bankruptcy in December 2005. At the same time, Standard&Poor's revised its recovery rating on Calpine's second-lien debt to '4' from '2'. The '1' recovery rating on Calpine's first-lien debt remains unchanged. The recovery ratings remain on CreditWatch with negative implications where they were placed Dec. 21, 2005. The '1' recovery rating indicates the high expectation of full recovery of principal. The '4' recovery rating indicates the expectation of marginal (25%-50%) recovery of principal. "The updated recovery ratings reflect Calpine's recently closed $2 billion debtor in possession financing,

  
Brief Excerpt:

RESEARCH Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut Publication date: 14-Mar-2006 NEW YORK (Standard & Poor's) March 14, 2006--Standard & Poor's Ratings Services said today that its ratings on...

  
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:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut" Mar 14, 2006. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Rating-Still-D-After-Debtor-In-Possession-Financing-Recovery-Rating-Cut-497596>
  
APA:
S&P Global Ratings’ Credit Research. (). Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut Mar 14, 2006. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Calpine-Rating-Still-D-After-Debtor-In-Possession-Financing-Recovery-Rating-Cut-497596>
  
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