MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said the
'BBB' ratings with stable outlook on Canadian power producer TransAlta Corp are
unaffected by the sale of its Mexico-based gas-fired generation assets.
The assets, accounted for as variable interest entities, constituted net
equity of 80 mln cad on Dec 31, 2007 and represent only 6 pct of TransAlta's net
owned capacity, the ratings agency said.
By mid-year the company expects to receive 303 mln cad from InterGen Global
Ventures BV, wholly owned by InterGen NV. TransAlta plans to use part of the
proceeds to buy back shares. However, S&P added, it does not expect this
transaction to materially compromise the company's financial risk profile.
TFN.newsdesk@thomson.com
npr/alo/ssa
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