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Moody’s cuts TerraForm AP debt to Ba3
Moody's Investors Service said it downgraded the rating on TerraForm AP Acquisition Holdings, LLC's senior secured debt to Ba3 from Ba2 and changed the outlook to negative.
Moody’s said the downgrade incorporates its view that the diminished financial strength at TerraForm Power (unrated) and its subsidiary, TerraForm Power Operating, LLC's (B2, negative) greatly reduces the prospects for future sales by TerraForm AP to TerraForm Power under the call rights agreement.
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