NEW YORK (Standard&Poor's) May 23, 2013--Standard&Poor's Ratings Services said today that its 'BB+' issue level rating and '1' recovery rating on NRG Energy Inc.'s term loan B due 2018 are unchanged following the proposed $450 million add-on to the loan, consisting of a $2.02 billion term loan maturing in 2018 and a $2.3 billion revolving credit facility maturing in 2018. The '1' recovery rating indicates very high (90% to 100%) recovery expectations in the event of a payment default. At this level, debt issues are rated two notches above the 'BB-' corporate credit rating on the company. The $2.3 billion revolving credit facility is an existing facility that is being repriced and extended by two years.
