Moody's upgrades SSL Finance

Moody's Investors Service said it upgraded SSL Finance Inc.’s senior secured rating to A2 from A3 and changed the outlook to stable from positive.

“Today's rating action reflects the project's strong operating performance since achieving Total DB Substantial Completion on March 10, 2020 (deemed to have occurred on Oct. 31, 2019), with minimal deductions to the availability payments made by the government of Canada (the authority, Aaa stable) to Signature on the Saint-Laurent Group GP (Private Partner), the party to which SSL Finance Inc./SSL Financement Inc. (Finco) on-lent the proceeds of its bond issue,” the agency said in a press release.

“The strong operating performance reflected in lower deductions, higher payments and lower than budgeted O&M costs, has resulted in higher DSCRs compared to the forecast,” Moody’s added.

© 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.