Wind Power Project Max Two Ltd. Outlook Revised To Negative; 'BBB-' Debt Rating Affirmed
Standard & Poors, May 2007
Abstract
FRANKFURT (Standard & Poor's) May 24, 2007--Standard & Poor's Ratings Services said today it revised to negative from stable its outlook on the senior secured debt rating on the ?100 million notes issued by Max Two Ltd. (MTL), due in September 2024. At the same time, the 'BBB-' rating on the notes was affirmed. "This follows ongoing weak financial performance by some wind farms due to lower than expected energy production resulting from weaker wind resources in 2005 and 2006 as well as higher than projected repair expenses at some of the wind farms," said Standard & Poor's credit analyst Ralf Etzelmueller. "Although we note that other wind farms in the portfolio are performing in line with projections, the structure
Article Type:NEWS,RATING_ACTION
Companies mentioned in this report are: Max Two Ltd.
Action: Affirmed
Action: Outlook: Negative
Max Two Ltd.
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