Moody's assigns Cheniere bond Baa3

Moody's Investors Service said it gave a Baa3 rating to Cheniere Corpus Christi Holdings, LLC's planned offering of $500 million of fully amortizing senior secured notes due 2039.

“CCH's investment grade credit profile considers the recent completion of construction activities at Corpus Christi Liquefaction, LLC (CCL), a three train 15 million ton per annum (MTPA) liquid natural gas (LNG) liquefaction facility, the demonstrated sustained, steady operating performance at CCL and robust, recurring cash flows derived under nine sale and purchase agreements (SPA) with nine counterparties,” Moody’s said in a press release.

The proceeds will be used to repay a similar amount of debt under the company's $2.5 billion term loan due June 2024.

The outlook is stable.

© 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.