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Fitch: Kleen Energy loans on watch
Fitch Ratings said it has placed the following Kleen Energy Systems, LLC debt on rating watch negative: $435 million ($267.9 million outstanding) term loan A due 2018 BB and $295 million ($272.5 million outstanding) term loan B due 2024 BB.
Prior to this rating action, the outlook was negative.
Fitch said that the negative watch reflects the potential for further operational disruptions or cost volatility to exacerbate deficiencies in project liquidity over the short-term.
Kleen's inability to repay its outstanding working capital facility loan or deferred target amortization in a timely manner as a result of weak operating cash flow could result in additional borrowing, the agency said.
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