S&P affirms Invenergy Thermal

S&P said it affirmed Invenergy Thermal Operating I LLC’s ratings on its proposed upsized term loan.

The company wants to add $75 million to its term loan. It had planned to upsize the loan by $50 million.

S&P affirmed the BB rating on the $425 million term loan B, which was originally for $350 million plus the $75 million proposed add-on. The recovery rating is unchanged at 1, indicating the agency’s estimate of very high recovery (90%-100%, rounded estimate: 90%) in a default.

The stable outlook is unchanged.

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