Moody's turns Kestrel outlook to stable

Moody's Investors Service said it affirmed the B2 ratings assigned to Kestrel Acquisition, LLC's senior secured credit facilities and revised the outlook to stable from negative.

The credit facilities consist of a $450 million term loan B due June 2025 with about $434 million outstanding and a $40 million revolving credit facility due June 2023.

“The stable outlook reflects an expectation that near-term regional spark spreads will remain strong and that the excess cash flow sweep scheduled for June results in a reduction of Kestrel's term loan debt balance,” Moody’s said in a press release.

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