S&P: Bicent Power unaffected

Standard & Poor's said its ratings on Bicent Power LLC's $330 million first-lien senior secured term loan B due June 2014 (BB-, $182.8 million outstanding as of June 30, 2009), $120 million secured letter of credit facility (BB-), $30 million secured revolving credit agreement expiring in 2012 (BB-) and $130 million second-lien senior secured term loan C due December 2014 (B-) remain unchanged after the company completed the sale of its 50% interest in the Hartwell electric generating plant to Oglethorpe Power Corp. on Oct. 13.

The outlook remains stable.

Proceeds from the sale will be used to pay down $46 million of first-lien debt.

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