S&P lifts Kiowa, Tenaska view to stable

Standard & Poor's said it revised the outlook to stable from negative on Kiowa Power Partners LLC's $642 million senior secured bonds due in 2013 and 2021.

The agency also said it affirmed the company's BBB- rating.

S&P also revised the outlook to stable from negative and affirmed the BB- rating on Tenaska Oklahoma I LP's $73.5 million senior secured bonds due in 2014 because Tenaska Oklahoma pays debt with distributions from Kiowa. The 1 recovery rating on Tenaska is unchanged.

The outlook revision reflects a view that operations for the project have now stabilized, S&P said.

Since the forced outage in June 2011, the project has not experienced any major operational issues to date, the agency said.

© 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.