S&P affirms Lea Power

Standard & Poor’s said it removed from CreditWatch and affirmed the BBB- rating on Lea Power’s $305.4 million 6.595% senior secured bonds due June 15, 2033.

The outlook is stable.

“The rating reflects our view of the project’s steady operational and financial performance, which is based on its stable history; known technology; strong contractual benefits under its tolling agreements, which result in the project being insulated from both fuel and power price risk; and exceptional performance under our stress case,” said S&P credit analyst Antonio Bettinelli in a news release.

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