Fitch to give Kleen loan BBB-

Fitch Ratings said it expects to assign ratings of BBB- with a stable outlook to Kleen Energy Systems, LLC's proposed issuance of a $450 million, term loan A and a $315 million term loan B.

The proceeds of the proposed issuance will be used to finance the construction of a generating facility near the city of Middletown, Ct., the agency said, adding that the term loan A and the term loan B will mature eight and 14 years, respectively, after the commercial operation date.

Energy Investors Funds will indirectly own an 80%-90% interest in Kleen through its subsidiaries United States Power Fund II LP, USPF II Institutional Fund LP and United States Power Fund III LP, the agency noted.

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