Standard & Poor's Ratings Services rating on Crockett Cogeneration, A California Limited Partnership's $295 million senior secured notes due 2025 is 'BBB-'. The outlook is negative. Crockett is a 240 MW natural gas-fired electric cogeneration facility located in Crockett, Calif., about 25 miles east of San Francisco. Crockett is a qualifying facility (QF) selling power to Pacific Gas & Electric Co. (PG&E) (BBB+/Stable) under the terms of a power purchase agreement (PPA) that expires in 2026. In addition, Crockett sells steam to C&H Sugar Company Inc. (C&H) (not rated) under the terms of a steam sales agreement that also expires in 2026. Natural gas is provided by BP Canada Energy Marketing Corp., an affiliate of BP Canada Energy Co. (AA+/Stable/A-1+),...
Companies mentioned in this report are:
- Crockett Cogeneration, A California L.P.
- General Electric Co.
- Pacific Gas & Electric Co.
- BNP Paribas
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