Moody's rates AES notes B1

Moody's Investors Service said it has assigned a B1 rating to the AES Corp.'s (B1 corporate family rating) proposed issuance of up to $350 million of senior unsecured notes due 2016.

The outlook is stable.

Proceeds from the proposed offering will be used to enhance AES's liquidity profile as several maturities approach, the agency said.

Specifically, AES faces a $154 million senior note due June 2009, the termination of a $600 million senior unsecured revolver in March 2010 and a $214 million senior note due September 2010, the agency noted.

Proceeds from the proposed offering are likely to be used to refinance any combination of these maturities, Moody's added.

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