Moody's: EquiPower loans Ba3

Moody's Investors Service said it assigned a Ba3 rating to EquiPower Resources Holdings, LLC's proposed $525 million senior secured credit facilities comprising a $425 million seven-year term loan and a $100 million five-year senior secured working capital facility.

The outlook is stable.

Moody's said the Ba3 rating reflects approximately 80% of hedged gross margin over the next three years, substantial equity investment by EquiPower's sponsor leading to relatively low leverage around $237/kw, operational diversification across four plants and the competitiveness of Milford and Lake Road.

© 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.