Moody’s assigns Ba3 to St. Joseph loans

Moody's Investors Service said it assigned a Ba3 rating on St. Joseph Energy Center, LLC's planned senior secured credit facilities due in 2028.

The senior secured credit facilities will consist of about a $337 million senior secured first-lien term loan B due 2028, a $31 million senior secured revolving credit facility due 2028 and a $7.9 million senior secured working capital facility due 2028.

The loans will refinance SJEC's about $337 million outstanding senior secured first-lien term loan B due 2025 (CUS: 85235EAB3) and two separate senior secured revolving credit facilities due 2025, all of which are rated at Ba3.

The agency said it will withdraw those Ba3 rating on each of SJEC's 2025 loans after it closes the new credit facilities.

The outlook is stable.

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