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Constellation Energy (CEG) Plummets on Collateral Concerns
Constellation Energy (CEG) plummeted to a 2 year low today with record volume after it was revealed that a credit rating downgrade could force the company into posting billions of dollars in extra collateral. High volatility in fuel and electricity prices have increased the risk of a downgrade, and the company could be forced to post over 3 billion collateral to cover those contracts if its debt is downgraded 3 levels. It’s important to point out that this hasn’t happened yet, but investors are concerned about that and ongoing concerns about transparency around the company’s cash flows
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