Moody's: First Wind view positive

Moody's Investors Service said it changed the outlook of First Wind Capital, LLC to positive from stable and affirmed the B3 corporate family rating, B3 senior secured rating, B3-PD probability of default rating and the SGL-2 speculative grade liquidity rating.

"Today's outlook change reflects First Wind's improved financial position," Moody's analyst John M. Grause said in a news release.

"This was accomplished through the construction of 477 megawatts of incremental wind generation whose capacity and output is sold to investment-grade off-takers under long-term contracts, the refinancing of an intermediate holding company loan with more favorable terms and a modest reduction in recourse debt," Grause added in the release.

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