...May 12, 2021 - We affirmed our '##+' issuer credit rating on independent power producer (IPP), NRG Energy Inc. - This review incorporates winter storm Uri's impact on NRG's financial profile. - As a result of the financial impact, our deleveraging expectations have decreased to about $350 million. Execution of the integrated strategy through summer 2021 is still key to NRG's ability to delever. - Any improvement in credit profile requires ERCOT reforms that mitigate systemic market risks. - Our stable outlook reflects a business risk profile of satisfactory and expectations that adjusted debt to EBITDA will range around 3.5x-3.6x on a run-rate basis in 2022. NEW YORK (S&P Global Ratings) May 12, 2021--S&P Global Ratings today took the rating actions listed above. The rating affirmation follows revised estimates of the financial costs from Winter Storm Uri. The company now estimates storm-related losses at $975 million. NRG believes that it can implement offsetting measures of at least $275...
