Fitch Confirms NRG Rating

- Fitch Confirms NRG Rating



Aug 9, 2011

Fitch Ratings on Tuesday confirmed its noninvestment-grade "B+" overall credit rating for wholesale power company NRG Energy Inc.(NYSE:NRG).

The credit rating agency also gave its "BB+" rating to NRG's new first line facilities and affirmed its "BB" rating on the company's unsecured notes. The outlook is stable.

Fitch pointed to the diversity of NRG's power plants in terms of size, fuel location, along with its improved business risk profile, strong liquidity position and historically conservative hedging strategy, as grounds for the ratings.

Fitch said it expects NRG's credit metrics to bottom out in 2013 and for its solid liquidity profile to allow it to navigate a continued drop in commodity prices.

NRG Energy has a potential upside of 28.7% based on a current price of $21.24 and an average consensus analyst price target of $27.33.

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UBS Initiates Coverage of Western Refining With $17 Target, Neutral Rating

- UBS Initiates Coverage of Western Refining With $17 Target, Neutral Rating



Jun 28, 2011

UBS initiated coverage of Western Refining (NYSE:WNR) today with a $17 price target and a neutral rating on the company.

Shares of Western Refining are trading up 3.13% at $17.12.

Western Refining has a potential upside of 23.2% based on a current price of $17.12 and an average consensus analyst price target of $21.1.

Western Refining is currently above its 50-day moving average (MA) of $16.38 and above its 200-day of $12.42.

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Moody's Cuts Toyota's Credit Rating to Aa3

- Moody's Cuts Toyota's Credit Rating to Aa3



Jun 28, 2011

Moody's Investors Service cut Toyota's credit rating one level to Aa3 today, the rating service's fourth highest rating.

The agency cited the company's slow slog towards profit recovery in the face of shrinking market share, a historically very strong yen, and high raw material prices.

Moody's said another downgrade was possible because Toyota's ratings "incorporate one notch of support from the country's banks and government, which are themselves under review for possible downgrade."

The company's May production levels still reflect the complete devastation wrought on the company, and the country, by the March 11 earthquake and tsunami, as worldwide production was still down 49.3% from a year ago.

Toyota said its production is up to 90% of normal levels now, and it plans to bring that number nearer to 100% in July.

Shares of Toyota Motor are trading up 0.4% at $80.06.

Toyota Motor has a potential upside of 15.4% based on a current price of $80.06 and an average consensus analyst price target of $92.4.

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UBS Initiates Coverage of Valero Energy with Buy Rating, $33 Price Target

- UBS Initiates Coverage of Valero Energy with Buy Rating, $33 Price Target



Jun 28, 2011

UBS initiated coverage of Valero Energy Corp (NYSE:VLO) today with a buy rating and a $33 price target for the company.

Shares of Valero Energy are trading up 2.32% at $24.25.

Valero Energy (NYSE:VLO) has a potential upside of 41.3% based on a current price of $24.25 and an average consensus analyst price target of $34.27.

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S&P's Ratings Services Affirmed Credit Ratings For US, Revised Its Outlook To Negative

S&P's Ratings Services Affirmed Credit Ratings For US, Revised Its Outlook To Negative



Apr 18, 2011

Standard & Poor's Ratings Services affirmed its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on the U.S., according to a Bloomberg report.

It also revised its outlook on the long-term rating to negative from stable.

The revised outlook reflects the U.S.'s "very large budget deficits and rising government indebtedness" relative to its triple-A peers.