S&P assigns Wolf Hollow loans BB-, B

Standard & Poor's said it assigned its preliminary BB- rating and 1 recovery rating to Wolf Hollow I LP's proposed $240 million first-lien senior secured term loan facility, consisting of $130 million term loan and $110 million synthetic LC facility due June 2012 ,and to Wolf Hollow's $50 million working capital facility due December 2010.

S&P said it also assigned its preliminary B rating and 4 recovery rating to Wolf Hollow's proposed second-lien $110 million term loan due December 2012.

The outlook is stable.

S&P said the risks incorporated in the preliminary ratings include the acquisition of Carroll Energy Inc.'s project and its concerns about the project's ability to refinance maturing debt in 2012 and whether it will be influenced by the ERCOT North market environment and the ability of the project to generate excess cash beyond what will be received from the Exelon PPA.

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