Moody’s rates West Deptford loans Ba3

Moody’s Investors Service said it assigned a Ba3 rating to West Deptford Energy Holdings, LLC's proposed $500 million senior secured credit facilities, which consist of a $445 million seven-year senior secured term loan and a $55 million five-year senior secured revolving credit facility.

The outlook is stable.

Proceeds from the term loan will be used to refinance existing debt, pay transaction expenses, and make a distribution to a sponsor group.

“West Deptford's Ba3 rating reflects the project's competitive generating profile; near-term cash flow visibility via cleared capacity revenues as well as tariff-based black-start and reactive power revenues; and a manageable leverage profile,” the agency said in a news release.

© 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.