|
|
 |
|
Viewing report
|
|
|
|
Calpine Corp.'s $360 Million Senior Secured Loan Facility Assigned 'B+' Rating Jun 11
Standard & Poors, June 2011
Abstract
SAN FRANCISCO (Standard & Poor's) June 7, 2011--Standard & Poor's Ratings Services said today that it assigned its 'B+' rating to Calpine Corp.'s proposed $360 million senior secured term loan credit facility due 2018. The loan was assigned a recovery rating of '2', indicating our expectation for substantial (70% to 90%) recovery of principal in the event of a payment default. At this recovery level, issue ratings are one notch above an issuer's corporate credit rating. The proceeds will be used to refinance project finance debt at Deer Park Energy Center LLC and Metcalf Energy Center LLC. Debt at these subsidiaries is currently not rated but is consolidated into Calpine's finances as part of Calpine's 'B' corporate credit rating. Deer...
Companies mentioned in this report are: Calpine Corp.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
