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S&P ups some Riverside Energy, Rocky Mountain loans to BB-
Standard & Poor's said it raised the rating to BB- from B on Riverside Energy Center, LLC's $368.5 million senior secured term loan and Rocky Mountain Energy Center LLC's $264.9 million senior secured term loan due 2011. The recovery rating is 1.
The outlook is stable.
Rocky Mountain and Riverside are power generation projects that are wholly owned, indirect subsidiaries of Calpine Corp. (B/stable).
Calpine's emergence from bankruptcy has removed credit concerns regarding these projects, the agency noted.
The upgrade also reflects the projects' steady operating and financial performance, S&P said.
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