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Debt | 3 Months Ended
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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.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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