S&P revises Lonestar recovery rating

S&P said it revised the recovery rating for Lonestar II Generation Holdings LLC’s upsized loan facilities to 2 from 1. A 2 rating indicates expectations for meaningful (70%-80%, rounded estimate: 80%) recovery in the event of default.

Lonestar plans to upsize its $250 million term loan B by $50 million and its $30 million term loan C by $6 million (both due 2026). The proceeds will be distributed to sponsors. S&P also affirmed its B+ issue-level rating on Lonestar II's upsized senior secured credit facilities.

The outlook is stable.

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