U.S. electricity generator Bosque Power, with five affiliates, filed for Chapter 11 protection Wednesday in a Texas court, according to court documents. The Laguna Park, Texas-based company listed assets and debt in the $100-$500 million range. The company had borrowed more than $400 million in early 2008. This money was used for converting its combustion turbines.

The company's senior debt rating was lowed from "1" to "3" earlier this month by Standard & Poor's Ratings Services. That rating indicates, in a default scenario, expectations of 50 percent to 70 percent recovery of principal, according to the rating agency.

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