Fitch affirms Alta certificates

Fitch Ratings said it affirmed the BBB- rating of Alta Wind 2010 Pass-Through Trust's $568.8 million of outstanding senior secured passthrough certificates due 2035. The outlook is stable.

The agency said the affirmation is based on Alta's financial and operating performance, which has remained consistent with Fitch's base case projections.

The ratings reflect the trust's fixed-price power purchase agreement with Southern California Edison, which effectively mitigates volumetric and price risks, and its favorable operating profile, Fitch said.

The ratings also reflect the risk that net output could fall below projections due to variability of the wind resource at a non-diversified, single-site project and the back-ended amortization profile of the trust's debt structure, the agency said.

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