AES Corporation Subsidiary Files for Bankruptcy

Energy provider AES Corporation (NYSE: AES) announced today that one of its wholly owned subsidiaries filed for bankruptcy protection.

The Arlington-based company said that the fling by subsidiary AES Eastern Energy will not affect its diluted earnings per share, adjusted earnings per share or cash flow for its annual 2011 financial results.

In another filling AES noted that the Eastern Energy subsidiary and its affiliates are indirectly wholly owned.

AES Eastern Energy is primarily focused on providing energy from facilities in New York, it manages over 1,000 megawatts of energy at four plants.AES acquired the plants from New York New York State Electric & Gas back in May of 1999.

AES traded higher in Tuesday afternoon following the overall market. Average volume totaled 5.57 million shares, currently at $12.05 per share, up 0.21 cents or 1.77 percent. 

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