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Moody's turns Granite Generation view to negative
Moody's Investors Service said it changed Granite Generation, LLC’s outlook to negative from stable and affirmed Granite's Ba3 corporate family rating, Ba3 senior secured and Ba3-PD probability of default ratings. Granite's speculative grade liquidity rating is unchanged and remains SGL-2.
"The negative outlook considers the uncertainty around Granite's future financial performance following the May 2021 PJM capacity auction that saw a material reduction in the capacity payments for 2022/2023," said Nati Martel, a Moody’s vice president and senior analyst, in a press release.
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