NRG Energy Inc. Upgraded To 'BB' On Asset Sales, Lower Leverage; Outlook Stable

NRG Energy Inc. has engaged in a transformation plan that has resulted in the sale of several assets that, while reducing scale, have contributed to better metrics. This improvement is likely to continue with the recent sale of NRG Yield Inc. and its upcoming sale of its South Central assets. We are raising our rating on NRG Energy to 'BB' as a result. We are also raising all issue-level ratings on the company's debt. The stable outlook reflects our expectation that these developments will drop adjusted Debt to EBITDA to beneath 3.5x by 2019. NEW YORK (S&P Global Ratings) Sept. 10, 2018--S&P Global Ratings today raised its issuer credit rating on NRG Energy Inc. to 'BB' from 'BB-'. The outlook

...+ NRG Energy Inc. has engaged in a transformation plan that has resulted in the sale of several assets that, while reducing scale, have contributed to better metrics. This improvement is likely to continue with the recent sale of NRG Yield Inc. and its upcoming sale of its South Central assets. + We are raising our rating on NRG Energy to '##' as a result. We are also raising all issue-level ratings on the company's debt. + The stable outlook reflects our expectation that these developments will drop adjusted Debt to EBITDA to beneath 3.5x by 2019. NEW YORK (S&P Global Ratings) Sept. 10, 2018--S&P Global Ratings today raised its issuer credit rating on NRG Energy Inc. to '##' from '##-'. The outlook is stable. At the same time, we raised the issue-level secured and unsecured ratings to '###-' and '##', respectively, from '##+' and '##-', respectively. The recovery scores of '1' and '3' on the secured and unsecured debt are unchanged. Our '1' recovery rating indicates our expectation of...

Ratings Action