NRG Energy Inc.'s $870 Million Senior Unsecured Notes Rated 'BB-'

NEW YORK (S&P Global Ratings) Nov. 9, 2017--S&P Global Ratings today assigned its 'BB-' issue-level rating and '3' recovery rating to NRG Energy Inc.'s $870 million senior unsecured notes, due 2028. The company will use the issuance to refinance 2023 maturities. The outlook is stable. The '3' recovery rating reflects our expectation of meaningful (50%-70%; rounded estimate: 65%) recovery in the event of default. We recently affirmed the rating on NRG Energy in light of the ongoing Business Transformation Plan, which we expect will decrease scale somewhat but lead to lower leverage during the next two years. RELATED CRITERIA Criteria - Corporates - General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 Criteria - Corporates - General: Methodology

...NEW YORK (S&P Global Ratings) Nov. 9, 2017--S&P Global Ratings today assigned its '##-' issue-level rating and '3' recovery rating to NRG Energy Inc.'s $870 million senior unsecured notes, due 2028. The company will use the issuance to refinance 2023 maturities. The outlook is stable. The '3' recovery rating reflects our expectation of meaningful (50%-70%; rounded estimate: 65%) recovery in the event of default. We recently affirmed the rating on NRG Energy in light of the ongoing Business Transformation Plan, which we expect will decrease scale somewhat but lead to lower leverage during the next two years. RELATED CRITERIA + Criteria - Corporates - General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 + Criteria - Corporates - General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 + Criteria - Corporates - Industrials: Key Credit Factors For The Unregulated Power And Gas Industry, March 28, 2014 + Criteria...

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