NRG Energy Inc.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2032 Rated 'BB+' (Recovery Rating: '4') - S&P Global Ratings’ Credit Research

NRG Energy Inc.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2032 Rated 'BB+' (Recovery Rating: '4')

NRG Energy Inc.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2032 Rated 'BB+' (Recovery Rating: '4') - S&P Global Ratings’ Credit Research
NRG Energy Inc.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2032 Rated 'BB+' (Recovery Rating: '4')
Published Aug 09, 2021
3 pages (1352 words) — Published Aug 09, 2021
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Aug. 9, 2021--S&P Global Ratings today assigned its 'BB+' issue-level rating and '4' recovery rating to NRG Energy Inc.'s proposed $1.1 billion senior unsecured notes due 2032. The '4' recovery rating indicates our expectation for meaningful (30%-50%; rounded estimate: 35%) recovery in the event of a default. The company intends to use the net proceeds from these notes, and cash on hand, to retire $1 billion of its outstanding debt maturing in 2026 and about $330 million of its outstanding debt maturing in 2027. As of June 30, 2021, NRG had about $8.8 billion of on-balance sheet recourse debt. While the company is targeting net debt to EBITDA of 2.75x (net of its $650 million

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - General Criteria: Methodology For Linking Long-Term And Short-Term Ratings, April 7, 2017 - 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 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013...

  
Report Type:

Ratings Action

Ticker
NRG
Issuer
NRG Energy Inc.
GICS
Electric Utilities (55101010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "NRG Energy Inc.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2032 Rated 'BB+' (Recovery Rating: '4')" Aug 09, 2021. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/NRG-Energy-Inc-s-Proposed-1-1-Billion-Senior-Unsecured-Notes-Due-2032-Rated-BB-Recovery-Rating-4-2702306>
  
APA:
S&P Global Ratings’ Credit Research. (). NRG Energy Inc.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2032 Rated 'BB+' (Recovery Rating: '4') Aug 09, 2021. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/NRG-Energy-Inc-s-Proposed-1-1-Billion-Senior-Unsecured-Notes-Due-2032-Rated-BB-Recovery-Rating-4-2702306>
  
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