| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Elwood Energy, LLC > News item |
S&P boosts Elwood Energy
Standard & Poor's said it raised its rating on Elwood Energy LLC's $402 million senior secured bonds due 2026 to BB- from B+ and removed the rating from CreditWatch with positive implications where it was placed on June 16.
The outlook is now stable.
The agency said that the upgrade follows Aquila Inc.'s (B-/Watch positive/B-3) recent assignment of its 626 MW tolling agreement with Elwood to Constellation Energy Commodities Group, a subsidiary of Constellation Energy Group Inc. (CEG, BBB+/Watch developing/A-2).
According to S&P, the rating on Elwood reflects that the project will be exposed to partial merchant risk from 2013 and full merchant risk after 2017 and there is a lack of geography, fuel and technology diversity.
© 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.