|Bid||40.00 x 1100|
|Ask||41.25 x 800|
|Day's Range||38.51 - 40.07|
|52 Week Range||19.54 - 43.54|
|Beta (5Y Monthly)||0.92|
|PE Ratio (TTM)||19.25|
|Earnings Date||May 05, 2021 - May 10, 2021|
|Forward Dividend & Yield||1.30 (3.26%)|
|Ex-Dividend Date||Jan 29, 2021|
|1y Target Est||50.27|
The AES Corporation (NYSE: AES) ("AES" or the "Company") announced today that it priced its offering of 10,000,000 Equity Units (the "Units"). The Company has granted to the underwriters an option to purchase up to an additional 1,500,000 Units, solely to cover over-allotments. The offering is being made under the Company's existing shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC") and is expected to close on March 11, 2021.
Rating Action: Moody's assigns Ba3 (hyb) rating to AES preferred stockGlobal Credit Research - 04 Mar 2021Up to $1,000 million of securities ratedNew York, March 04, 2021 -- Moody's Investors Service, ("Moody's") has assigned a Ba3 (hyb) rating to AES Corporation, (The)'s (AES) proposed Series A Cumulative Perpetual Convertible Preferred Stock cumulative perpetual preferred stock. The outlook of AES is stable.AES intends to use the net proceeds from this offering to fund its investments, including in renewables and liquified natural gas infrastructure, as well as to make contributions to its regulated utility subsidiaries.RATINGS RATIONALEThe Ba3 (hyb) rating assigned to the preferred stock is two notches below AES' corporate family rating (CFR) of Ba1 and reflects its relative position in the company's capital structure compared to its senior unsecured debt.