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Article: Constellation Downsizing Debt - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- October 2, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Constellation Downsizing Debt - Analyst Blog
Constellation Energy Group Inc.
(
CEG
) is focused on improving its liquidity position and strengthen its balance sheet. The company was able to reduce its total debt level from $8.5 billion at year-end 2008 to below the $7 billion mark after the first half of fiscal 2009.
The debt-loaded company with a debt-to-equity ratio of 134.6% after the first half of fiscal 2009 dished out $143.9 million in interest expenses during the recent second quarter of 2009 compared to only $78.8 million in the year-ago quarter.
The pain may get even worse with the July 2009 downgrade by Fitch Ratings, bringing Constellation Energy's senior ...