S&P rates Yellowstone Energy notes BBB-

Standard & Poor's said it assigned a BBB- rating to Yellowstone Energy LP's $131.5 million senior secured notes due 2026.

The outlook is stable.

The bonds are backed by revenue from the company's circulating fluidized bed power generation facility, which has been in operation since 1995, S&P said.

The project is exposed to potential increases in operating or fuel costs and the risk of shutdown of one or more of the refineries, the agency said.

The ratings also consider the fixed priced of the project's off-takes and its other prospects, S&P said.

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