Fitch puts Caithness Shepherds on watch

Fitch Ratings said it placed Caithness Shepherds Flat, LLC's non-guaranteed project debt rating on Rating Watch negative.

The outlook is stable.

The negative watch is driven by the recent downgrade of Southern California Edison's long-term issuer default rating to BBB-, Fitch said.

The company relies on Southern California Edison for all of its cash flow, which is generated under the long-term power purchase agreement, the agency explained.

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