DBRS confirms Kingston Solar

DBRS said it confirmed the ratings of BBB with stable trends on both the 3.571% series 1A-2016 senior secured notes and the 3.571% series 1B-2016 senior secured notes issued by Kingston Solar LP.

The two tranches of notes (original amount: C$632.97 million, outstanding balance: approximately C$611 million), rank pari passu and will fully amortize by the July 31, 2035 maturity date.

The rating confirmations reflect ProjectCo’s stable operating and financial performances in 2016 and 2017 year to date, which have met DBRS’ expectations, the agency said in a news release.

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