(^1) This case study is based on an interview with Eric Lejous, formerly Vice President of Chase Manhattan Bank, plc,
London, and analyses by, and interviews with, Richard Hunter, Managing Director of Fixed Ratings and Jan
Willens Plantagie, Credit Analyst at Standard & Poor’s.
(^2) The source for Exhibit 12.1 and the other Exhibits in this case study, is the Offering Memorandum, dated 27 July
2000 for AES.
(^3) The Regulatory News Service, 9 April 1999, p. 1.
(^4) Irwin, Neil, ‘Formula for Corporate Crisis: Enron, Collapsing Currencies, and Falling Energy Prices Cause
5 Problems for AES’, Washington Post,25 February 2002, p. E1.
Spikes, Sarah, ‘UK Coal-Fired Power Stations to Hibernate This Summer’, Dow Jones Energy Service, 28 March
2002.
(^6) Kemeny, Lucinda, ‘Threat to Drax Power Plant’, Sunday Times(London), p. 3.
(^7) Miller, James P., ‘AES Sells Competitive Energy Unit to Constellation Energy Group’, Chicago Tribune, 12 June
2002.
(^8) Chipman, Andrea, ‘UK Power Plant Crisis Could Cool Project Finance’, Dow Jones Energy Service, 11 June 2002.
(^9) Piller, Dan, ‘TXU Pays Bill for British Subsidiary Three Days Late’, Fort Worth Star-Telegram, 18 October 2002.
(^10) Moore, Malcolm, ‘Draxula – A Power Horror Story’, Daily Telegraph,21 November 2002, p. 36.
(^11) ‘AES Drax Reaches Restructuring Agreement with Lenders’, Dow Jones International News,28 November 2002.
POWER PLANT
frankie
(Frankie)
#1