S&P affirms Cheniere Corpus Christi notes

S&P said it affirmed its BB- issue-level rating on Cheniere Corpus Christi Holdings LLC's senior secured notes.

The recovery rating is 2, indicating an expectation of substantial (70%-90%; rounded estimate: 85%) recovery in the event of a default.

The outlook is stable.

Parent company Cheniere Energy Inc. announced that Cheniere Corpus Christi signed an amendment to its existing credit facility, increasing the availability to $6.1 billion to facilitate the project's continued construction.

S&P said the rating on the notes remains constrained by the long-term corporate credit rating on Cheniere Energy, the delayed equity provider during the construction phase.

© 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.