Research Update: Calpine Corp. Ratings Affirmed On Announcement Of Acquisition By Energy Capital Partners; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Calpine Corp. Ratings Affirmed On Announcement Of Acquisition By Energy Capital Partners; Outlook Stable

Research Update: Calpine Corp. Ratings Affirmed On Announcement Of Acquisition By Energy Capital Partners; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Calpine Corp. Ratings Affirmed On Announcement Of Acquisition By Energy Capital Partners; Outlook Stable
Published Aug 18, 2017
12 pages (4703 words) — Published Aug 18, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings today affirmed its 'B+' corporate credit rating on Calpine Corp. on the announcement that it is being acquired by the consortium of Energy Capital Partners (ECP) and a consortium of investors in a take-private transaction. At the same time, we affirmed our 'BB' issue-level senior secured ratings on the company. The recovery rating on Calpine's senior secured debt is '1', indicating our expectation for very high (90%-100%; rounded estimate: 95%) recovery in a hypothetical default scenario. We have affirmed our 'B' senior unsecured issue-level ratings on the company. The recovery rating on Calpine's unsecured debt is '5', indicating our expectation for modest (10%-30%; rounded estimate: 25%) recovery in a default scenario. We have also affirmed our 'BB'

  
Brief Excerpt:

...S&P Global Ratings today affirmed its 'B+' corporate credit rating on Calpine Corp. on the announcement that it is being acquired by the consortium of Energy Capital Partners (ECP) and a consortium of investors in a take-private transaction....

  
Report Type:

Research Update

Ticker
CPN
Issuer
Calpine Corp.
GICS
Independent Power Producers & Energy Traders (55105010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Calpine Corp. Ratings Affirmed On Announcement Of Acquisition By Energy Capital Partners; Outlook Stable" Aug 18, 2017. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Calpine-Corp-Ratings-Affirmed-On-Announcement-Of-Acquisition-By-Energy-Capital-Partners-Outlook-Stable-1902821>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Calpine Corp. Ratings Affirmed On Announcement Of Acquisition By Energy Capital Partners; Outlook Stable Aug 18, 2017. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Calpine-Corp-Ratings-Affirmed-On-Announcement-Of-Acquisition-By-Energy-Capital-Partners-Outlook-Stable-1902821>
  
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