Moody’s assigns Ca to SCC notes

Moody’s Investors Service said it assigned Ca ratings to SCC Power plc’s senior secured notes due 2028 and 2032.

“SCC Power Ca rating takes into account the stable monthly cash flows derived from fixed capacity payments under the availability power purchase agreements (PPAs) that its operating companies have with Compania Administradora del Mercado Mayorista Electrico (Cammesa), the electricity grid operator that manages the wholesale electricity market in Argentina. The PPAs with Cammesa are dollar denominated,” Moody’s said in a press release.

The proceeds were used to refinance the company's pre-existing indebtedness, debtor-in-possession facilities and pay related expenses upon its emergence from bankruptcy in May 2022.

The outlook is stable.

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