Moody's could cut Atlantic Power

Moody's Investors Service said it placed the ratings of Atlantic Power Corp. under review for possible downgrade.

Ratings placed under review are the company's Ba3 corporate family rating, Ba3-PD probability of default rating and B1 senior unsecured debt rating.

Concurrently, Moody revised the speculative grade liquidity rating of Atlantic Power to SGL-3 from SGL-2.

"An apparent lack of progress in renegotiating Atlantic Power's bank credit facility combined with substantially diminished access to capital markets will constrain the company's growth prospects," Moody's vice president and senior analyst Bill Hunter said in a news release.

"Continued growth in AT's portfolio of power projects with long term off-take contracts is important, because the company has faced headwinds in renewing contracts for some of its more seasoned plants."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.