AES Upgraded by S&P to BB+; Closes $1 Billion Sale of Masinloc and Uses All Proceeds to Reduce Parent Debt

ARLINGTON, Va.–(BUSINESS WIRE)–The AES Corporation’s (NYSE: AES) credit rating was upgraded one notch by S&P Global Ratings (S&P), to BB+ from BB. The upgrade was a direct result of accelerated debt reduction from asset sale proceeds. “We are pleased that in recognition of our substantial de-levering, S&P has upgraded our credit rating to BB+. We remain committed to achieving investment grade credit metrics by 2019,” said Tom O’Flynn, AES Executive Vice President and Chief Financi