S&P upgrades FPL notes to BBB

Standard & Poor's said it raised its rating on FPL Energy American Wind LLC's $380 million senior secured notes due 2023 to BBB from BBB- and affirmed the BBB- rating on FPL Energy National Wind LLC's $357 million senior secured notes due 2024

The outlook is stable.

The upgrade follows the agency's analysis of four years of the company's operational performance and is based on stable cash flow and a financial performance that is above S&P's initial expectations. Several years of stable operations for the projects, reasonable expectations for wind turbine performance and stable offtaker ratings support the stable outlook, the agency said.

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