Standard&Poor's Ratings Services today assigned its 'BB+' rating to NRG Energy's proposed $3.9 billion senior secured credit facilities, consisting of a $1.6 billion term loan maturing in 2018 and a $2.3 billion revolving credit facility maturing in 2016. Both facilities have been assigned a '1' recovery rating. The proceeds will be used to refinance NRG Energy's existing senior secured term loan, revolving credit, and letter of credit (LOC) facilities. The refinancing will eliminate the 50% excess cash flow sweep that exists as part of the term loan. On June 8, 2011, Standard&Poor's Ratings Services assigned its 'BB+' rating to the proposed $3.9 billion senior secured credit facilities at NRG Energy (NRG). The recovery rating is '1',
