Cleco Corp. And Subsidiary CreditWatch Revised To Developing From Negative On Rejection Of Acquisition - S&P Global Ratings’ Credit Research

Cleco Corp. And Subsidiary CreditWatch Revised To Developing From Negative On Rejection Of Acquisition

Cleco Corp. And Subsidiary CreditWatch Revised To Developing From Negative On Rejection Of Acquisition - S&P Global Ratings’ Credit Research
Cleco Corp. And Subsidiary CreditWatch Revised To Developing From Negative On Rejection Of Acquisition
Published Feb 25, 2016
3 pages (1307 words) — Published Feb 25, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

The Louisiana Public Service Commission rejected an investor consortium's attempted acquisition of Cleco Corp. for about $4.7 billion. We are revising our CreditWatch placement to developing from negative on our 'BBB+' corporate credit rating on Cleco Corp. and its regulated subsidiary Cleco Power LLC, including the senior unsecured debt ratings on Cleco Power LLC. The ratings were initially placed on CreditWatch with negative implications on Oct. 21, 2014, following Cleco's announcement that it agreed to be sold to the investor consortium. The revision of the CreditWatch implications to developing reflects the potential for ratings to be raised or lowered in the very near term pending the completion of our review of the company's business and financial risk profiles, including the

  
Brief Excerpt:

...+ The Louisiana Public Service Commission rejected an investor consortium's attempted acquisition of Cleco Corp. for about $4.7 billion. + We are revising our CreditWatch placement to developing from negative on our '###+' corporate credit rating on Cleco Corp. and its regulated subsidiary Cleco Power LLC, including the senior unsecured debt ratings on Cleco Power LLC. The ratings were initially placed on CreditWatch with negative implications on Oct. 21, 2014, following Cleco's announcement that it agreed to be sold to the investor consortium. + The revision of the CreditWatch implications to developing reflects the potential for ratings to be raised or lowered in the very near term pending the completion of our review of the company's business and financial risk profiles, including the outcome of Cleco's evaluation of its options following the Commission's decision. NEW YORK (Standard & Poor's) Feb. 25, 2016--Standard & Poor's Ratings Services said today it revised its CreditWatch placement...

  
Report Type:

Ratings Action

Ticker
CNL
Issuer
Cleco Corporate Holdings LLC
GICS
Electric Utilities (55101010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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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. "Cleco Corp. And Subsidiary CreditWatch Revised To Developing From Negative On Rejection Of Acquisition" Feb 25, 2016. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Cleco-Corp-And-Subsidiary-CreditWatch-Revised-To-Developing-From-Negative-On-Rejection-Of-Acquisition-1586500>
  
APA:
S&P Global Ratings’ Credit Research. (). Cleco Corp. And Subsidiary CreditWatch Revised To Developing From Negative On Rejection Of Acquisition Feb 25, 2016. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Cleco-Corp-And-Subsidiary-CreditWatch-Revised-To-Developing-From-Negative-On-Rejection-Of-Acquisition-1586500>
  
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