Moody's: LSP Madison loan Ba3

Moody's Investors Service said it assigned a Ba3 rating to LSP Madison Funding, LLC's $450 million senior secured term loan B due July 2020.

The outlook is stable.

Moody's said the assigned Ba3 rating reflects predictable contracted gross margins of over 65% through mid-2017 derived principally from capacity payments, reactive power tariff and black start revenue at three peaking units as well as contracted energy and capacity revenue through a partial interest in a run-of-the-river hydro facility.

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