Fitch affirms Kleen Energy

Fitch Ratings said it has affirmed the BBB- ratings of Kleen Energy Systems, LLC's $435 million term loan A due 2018 and $295 million term loan B due 2024.

The agency said that the ratings are based on Kleen's projected financial performance during the term of the tolling agreement, and the potential for technical performance shortfalls remains the primary credit concern.

The rating affirmation reflects construction progress that is generally consistent with the sponsor's original expectations, Fitch said, adding that it has no reason to believe that O&G Industries, the EPC contractor, will fail to achieve substantial completion on-time and within budget.

The outlook is stable.

© 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.