Moody’s eyes ExGen Renewables IV for upgrade

Moody’s Investors Service said it placed ExGen Renewables IV’s B2 rating on its senior secured term loan under review for upgrade.

“The review for upgrade on EGR IV’s B2 rating considers the expected emergence of Pacific Gas & Electric’s (PG&E) given the majority support of PG&E creditors for the utility’s proposed plan of reorganization (POR), the approval of the POR by the California Public Utilities Commission, our view of PG&E’s credit quality upon its emergence from bankruptcy, and our expectation that the technical debt default at EGR IV’s AV Solar Ranch 1, LLC’s (AVSR) will be resolved soon thereafter,” Moody’s said in a press release.

© 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.