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Research Update: Calpine Corporate Credit Rating Cut To 'CCC', Off Watch Neg

Published Nov 29, 2005

1850 words — Published Nov 29, 2005

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

On Nov. 29, 2005, Standard&Poor's Ratings Services lowered its corporate credit rating on merchant generation company Calpine Corp. and its subsidiaries to 'CCC' from 'B-' and removed the ratings from CreditWatch with negative implications. The outlook is negative. The San Jose, Calif.-based company, which develops, acquires, owns, and operates power generation facilities, has about $18 billion of total debt outstanding. Standard&Poor's 'BBB-' underlying rating on Gilroy Energy Center LLC's bonds and its 'BBB' rating on Power Contract Financing LLC's bonds were not affected by the rating action on Calpine. The ratings downgrade is based on Calpine's board of directors' decision to remove the current CEO and CFO, which signals a change in management strategy and may

Brief Excerpt:

RESEARCH Research Update: Calpine Corporate Credit Rating Cut To '###', Off Watch Neg Publication date: 29-Nov-2005 Credit Rating: ###/Negative/-- Rationale On Nov. 29, 2005, Standard & Poor's Ratings Services lowered its corporate...

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:

HTML

Calpine Corporate Credit Rating Lowered To 'CCC-' After Bankruptcy Warning – 2005/12/02 – US$ 150.00

Research Update: Calpine Corporate Credit Rating Cut To 'CCC-' After Bankruptcy Warning – 2005/12/02 – US$ 225.00

Calpine Corp.'s Ratings Cut To 'D' After Bankruptcy Filing – 2005/12/21 – US$ 150.00

Research Update: Calpine Corp.'s Ratings Lowered To 'D' After Bankruptcy Filing – 2005/12/21 – US$ 225.00

Calpine Rating Still 'D' After Debtor In Possession Financing; Recovery Rating Cut – 2006/03/14 – US$ 150.00

Calpine Corporate Credit Rating Lowered To 'CCC', Off Watch Neg – 2005/11/29 – US$ 150.00

Calpine's And Units' Ratings Placed On Watch Neg After Court's Adverse Ruling – 2005/11/22 – US$ 150.00

Research Update: Calpine's And Units' Ratings Placed On Watch Neg After Court's Adverse Ruling – 2005/11/22 – US$ 225.00

Summary: Calpine Corp. – 2005/10/26 – US$ 225.00

Calpine Corp. – 2005/10/17 – US$ 500.00

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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 Corporate Credit Rating Cut To 'CCC', Off Watch Neg" Nov 29, 2005. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Calpine-Corporate-Credit-Rating-Cut-To-CCC-Off-Watch-Neg-478180>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Calpine Corporate Credit Rating Cut To 'CCC', Off Watch Neg Nov 29, 2005. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Calpine-Corporate-Credit-Rating-Cut-To-CCC-Off-Watch-Neg-478180>

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