Moody's gives Star West loans Ba3

Moody's Investors Service said it assigned a Ba3 rating to Star West Generation, LLC's $825 million in senior secured credit facilities.

The facilities consist of a $725 million seven-year senior secured term loan B due 2020 and a $100 million five-year senior secured revolving credit facility due in 2018.

The outlook is stable.

Moody's said the Ba3 rating on the portfolio reflects predictable cash flows generated principally through discrete medium- to long-term tolling arrangements at all five assets with investment grade offtakers resulting in approximately 80% of gross margins contracted through term loan maturity.

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