S&P rates West Deptford loans BB-

S&P said it assigned a BB- rating to West Deptford Energy Holdings LLC’s new $445 million senior secured term loan B due in 2026 and a $55 million senior secured revolving credit facility due in 2024.

The agency assigned a 1 recovery rating indicating S&P’s expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of default.

Proceeds are expected to be used to refinance an existing term loan and fund a distribution to sponsors.

The outlook is stable.

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