IPALCOIndianapolis Power and Light Company
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However, its rating is upward constrained by IPALCO and is only one notch above IPALCO.
The Canadian company has also agreed to invest $349 million in IPALCO through 2016 in return of a 17.
As part of the agreement, CDPQ will acquires 15% of AES US Investments (AES US Investments), a wholly-owned subsidiary of AES that owns 100% of IPALCO Enterprises (IPALCO).
IPALCO at the time was getting ready to merge with the AES Corporation, a Virginia-based global-utility behemoth, in a deal that IPALCO'S managers and board of directors were touting to shareholders--while rushing to dump their own stock before the merger took effect.
To get at real costs and unit profitability, IPALCO turned to Oracle's internet-enabled Strategic Enterprise Management (SEM) suite of applications.
The ratings of IPALCO and IPL are linked, as both depend upon the cash flows of IPL.
Fitch expects distributions from IPALCO Enterprises, AES' wholly owned subsidiary, to be muted over this time period due to significant capex needed to bring its predominantly coal-fired generation portfolio into compliance with emission rules.
Another deal that has a similar storyline is the sale of energy holding company IPALCO Enterprises to AES Corp.
The M&A game dealt Indiana some big-name losses in 2000, including Arvin, IPALCO and Bindley Western.
Fitch expects the corporate and financing structure of DPL and DP&L to mirror that of AES' other domestic regulated utility and holding company, Indianapolis Power & Light and IPALCO.
Exelon Corporation Florida Power & Light Florida Power Corporation (d/b/a Progress Energy Florida) Georgia Power Company Gulf Power Company Iberdrola USA Indiana Michigan Power Company Indianapolis Power & Light Company IPALCO Enterprises, Inc.
NEW YORK -- Fitch Ratings has affirmed the 'BBB-' Issuer Default Ratings (IDRs) of both IPALCO Enterprises, Inc.