SAN FRANCISCO (Standard&Poor's) Jan. 11, 2011--Standard&Poor's Ratings Services assigned its 'BB-' rating to NRG Energy Inc.'s proposed $1.2 billion senior unsecured notes due 2018. In addition, we assigned a recovery rating of '3' to the notes, indicating our expectation for a meaningful (50%-70%) recovery of principal in the event of a payment default. At this recovery level, issue ratings are equal with the issuer's 'BB-' corporate credit rating. The company will use the proceeds to refinance $1.2 billion in unsecured notes due in 2014. NRG is a wholesale power generator that owns 24,010 MW of nuclear, fossil, and renewable generation in Texas, south central California, and the Northeast. NRG also serves 1.6 million retail electric customers
