S&P: Calpine unaffected

Standard & Poor's said Monday that Calpine Corp.'s (B/negative/--) completion of a $250 million construction and term loan financing for its 600-MW Rocky Mountain Energy Center located in Weld county, Colo., does not materially affect the company's credit quality.

S&P said the new financing alleviates some refinancing pressure on Calpine but is reflected in Calpine's current rating.

Calpine expects to complete construction of the Rocky Mountain Energy Center in June 2004. Upon completion, Calpine will sell the full electrical output of the plant to Public Service Co. of Colorado under a 10-year tolling agreement.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.