Research Update: Calpine Corp.'s Corporate Credit Rating Raised To ?B+?; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Calpine Corp.'s Corporate Credit Rating Raised To ?B+?; Outlook Stable

Research Update: Calpine Corp.'s Corporate Credit Rating Raised To ?B+?; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Calpine Corp.'s Corporate Credit Rating Raised To ?B+?; Outlook Stable
Published Sep 30, 2011
Published Sep 30, 2011
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Standard&Poor's raised it's corporate credit rating on Calpine Corp. to 'B+' from 'B'. We raised our secured rating to 'BB-' from 'B+' on Calpine Corp.'s secured debt. A '2' recovery rating on Calpine's secured debt was affirmed. The outlook is stable. The rating action is based on a combination of business and financial factors -- improved revenue diversity; potential benefit from environmental regulations and fuel switching; elimination of debt maturities through 2015; and expectations that Calpine will remain free cash flow positive even under downside scenarios. Standard&Poor's Ratings Services today raised Calpine Corp.'s (Calpine) corporate credit rating to 'B+' from 'B'. We also raised the rating on secured debt at Calpine Corp. to 'BB-' from 'B+'.

  
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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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Calpine Corp.'s Corporate Credit Rating Raised To ?B+?; Outlook Stable" Sep 30, 2011. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Calpine-Corp-s-Corporate-Credit-Rating-Raised-To-B-Outlook-Stable-896048>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Calpine Corp.'s Corporate Credit Rating Raised To ?B+?; Outlook Stable Sep 30, 2011. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Calpine-Corp-s-Corporate-Credit-Rating-Raised-To-B-Outlook-Stable-896048>
  
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