S&P: MRP Generation loan BB-

S&P said it assigned a preliminary BB- rating to MRP Generation Holdings LLC's proposed $310 million term loan B due 2022 and $30 million revolving credit facility due 2021.

The outlook is stable.

The agency also said it also assigned a preliminary 1 recovery ratings, indicating 90% to 100% expected default recovery.

The B+ rating on the existing term loan B and revolving credit facility due 2017 is unchanged, but the rating will be withdrawn at the close of the transaction when this debt is repaid, S&P said.

The stable outlook reflects a view that MRP Generation will continue to meet expectations both operationally and financially, the agency said.

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