Moody's: Sabine Pass loan Ba3

Moody's Investors Service said it assigned an underlying Ba3 rating to Sabine Pass Liquefaction, LLC's upsized $5.9 billion senior secured bank loan due 2020.

Concurrent with this rating action, Moody's affirmed Sabine Pass' Ba3 rating on $3 billion of senior secured notes and the B1 rating on Sabine Pass LNG's $2.1 billion in senior secured notes.

The Ba3 underlying rating does not incorporate any separate export credit agency credit enhancement, which applies to Sabine Pass' export credit agency covered bank loan tranches.

The outlooks are stable.

Moody's said the Ba3 senior secured rating assigned to Sabine Pass' upsized $5.9 billion senior secured bank loan captures the incremental credit risks associated with the financing and construction for LNG trains 3 & 4 including many of its previously articulated concerns regarding the uncertainties associated with trains 3 & 4 construction.

© 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.