IPALCOIndianapolis Power and Light Company
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The Canadian company has also agreed to invest $349 million in IPALCO through 2016 in return of a 17.
The Medal of Honor Memorial, which occupies a prominent position on the promenade along the canal in downtown Indianapolis, was established under the leadership of the former chairman of IPALCO Enterprises, John Hodowal, and was dedicated in 1999.
To get at real costs and unit profitability, IPALCO turned to Oracle's internet-enabled Strategic Enterprise Management (SEM) suite of applications.
On March 15, IPALCO Enterprises announced it was mounting an unsolicited takeover bid for PSI.
The ratings of IPALCO and IPL are linked, as both depend upon the cash flows of IPL.
Last year, IPALCO set up an industrial energy fund through the Indiana Department of Commerce to promote electro-technologies; the Indianapolis utility endowed the fund with $1 million.
The IPALCO ratings are based on the availability of upstream cash flows from its low-risk regulated utility, IPL, and the weak credit quality and lack of equity support from its lower rated parent, The AES Corporation (AES; IDR 'B+').
It is a subsidiary of IPALCO Enterprises, which is in turn a wholly owned subsidiary of The AES Corporation.
IPALCO and affiliate IPL's triple-'B' ratings and Gener and affiliate Guacolda's triple-'B'-minus ratings are higher than that of AES by virtue of cumulative value provided by such enhancements as structural protections, covenants, a pledge of stock, and an independent director.
IPALCO is a holding company with no material tangible assets except IPL stock, and it relies solely on distributions from IPL to service its debt and make upstream dividends to its parent, AES.
IPALCO Enterprises is a multi-state energy company providing a variety of energy products and services.