Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated 'BB-', Recovery Rating '3' - S&P Global Ratings’ Credit Research

Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated 'BB-', Recovery Rating '3'

Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated 'BB-', Recovery Rating '3' - S&P Global Ratings’ Credit Research
Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated 'BB-', Recovery Rating '3'
Published Sep 11, 2012
2926 words — Published Sep 11, 2012
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About This Report

  
Abstract:

Princeton, N.J.-based energy provider NRG Energy is issuing $990 million senior unsecured notes due 2023. The company will use the proceeds to refinance its existing $1.09 billion senior unsecured notes due 2017 and will use cash-in-hand to refinance the balance amount of notes outstanding. We are assigning a 'BB-/Watch Neg' issue rating and '3' recovery rating to the proposed notes. We may resolve the CreditWatch placement before the consummation of the transaction following more detailed analysis of management's capitalization plan and business strategy. On Sept. 11, 2012, Standard&Poor's Ratings Services assigned a 'BB-/Watch Neg' rating (the same as the corporate credit rating) to NRG Energy Inc.'s $990 million senior unsecured notes. The notes have a recovery rating of

  
Brief Excerpt:

RESEARCH Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated '##-', Recovery Rating '3' Publication date: 11-Sep-2012 Primary Credit Analyst: Aneesh Prabhu, CFA, FRM, New York (1) 212-438-1285; aneesh_prabhu@standardandpoors.com...

  
Report Type:

Research Update

Ticker
NRG
Issuer
NRG Energy Inc.
GICS
Independent Power Producers & Energy Traders (55105010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated 'BB-', Recovery Rating '3'" Sep 11, 2012. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-NRG-Energy-Inc-990-Million-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-3-1009729>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: NRG Energy Inc. $990 Million Senior Unsecured Notes Rated 'BB-', Recovery Rating '3' Sep 11, 2012. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-NRG-Energy-Inc-990-Million-Senior-Unsecured-Notes-Rated-BB-Recovery-Rating-3-1009729>
  
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