NRG Energy Inc. Senior Unsecured Notes Assigned 'BB-' Ratings

NEW YORK (S&P Global Ratings) May 9, 2016--S&P Global Ratings today assigned its 'BB-' issue-level rating and '3' recovery rating to NRG Energy Inc.'s proposed $700 million senior unsecured notes due 2026. The '3' recovery rating reflects our expectation of meaningful (50% to 70%; upper half of the range) recovery in the event of default. The company intends to use net proceeds from the issuance as well as about $300 million of cash on hand to tender across the bond complex. As of Dec. 31, 2015, NRG had about $9.2 billion of recourse and imputed debt. NRG is a publicly traded independent power producer focused on the wholesale and retail unregulated power business. The 'BB-' corporate credit rating on NRG

...NEW YORK (S&P Global Ratings) May 9, 2016--S&P Global Ratings today assigned its '##-' issue-level rating and '3' recovery rating to NRG Energy Inc.'s proposed $700 million senior unsecured notes due 2026. The '3' recovery rating reflects our expectation of meaningful (50% to 70%; upper half of the range) recovery in the event of default. The company intends to use net proceeds from the issuance as well as about $300 million of cash on hand to tender across the bond complex. As of Dec. 31, 2015, NRG had about $9.2 billion of recourse and imputed debt. NRG is a publicly traded independent power producer focused on the wholesale and retail unregulated power business. The '##-' corporate credit rating on NRG Energy is based on our assessment of a fair business risk profile and aggressive financial risk profile. The outlook is stable. For the corporate credit rating rationale, see the research update on NRG Energy Inc. published on March 3, 2016. RELATED CRITERIA AND RESEARCH Related Criteria...

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