Debt

3 Months Ended

Sep. 30, 2012

DEBT

7. DEBT

Non-Recourse Debt

The following table summarizes the Company's subsidiary non-recourse debt in default or accelerated as of September 30, 2012 and is classified as current non-recourse debt unless otherwise indicated:

	Primary Nature	September 30, 2012
Subsidiary	of Default	Default Amount		Net Assets (Liabilities)
		(in millions)
Maritza	Covenant	$	850	$	534
Sonel	Covenant		285		359
Kavarna	Covenant		204		72
Saurashtra	Covenant		28		16
Kelanitissa	Covenant		10		56
Total		$	1,377

Except as noted in the table above, the defaults are not payment defaults, but are instead technical defaults triggered by failure to comply with other covenants and/or other conditions such as (but not limited to) failure to meet information covenants, complete construction or other milestones in an allocated time, meet certain minimum or maximum financial ratios, or other requirements contained in the non-recourse debt documents of the Company.

In addition, in the event that there is a default, bankruptcy or maturity acceleration at a subsidiary that meets the applicable definition of materiality under the corporate debt agreements of The AES Corporation, there could be a cross-default to the Company's recourse debt. At September 30, 2012 none of the defaults listed above results in a cross-default under the recourse debt of the Company.