Moody's: No change to Essential

Moody's Investors Service said it maintains the Ba2 rating on Essential Power, LLC's issuance of a new $565 million first-lien senior secured term loan due 2019 and a new $100 million revolving credit facility due 2017.

At the same time, Moody's maintains the existing Ba3 rating on the second-lien notes. The outlook is stable.

This transaction represents a refinancing of the existing first and second line debt into a new first-lien senior secured facility. Moody's said it would continue to maintain the Ba3 rating until all the notes have been redeemed and the rating can be withdrawn.

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