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Research Update: Wolf Hollow I's Ratings Placed On Watch Positive After Exelon Corp. Announces Acquisition Jun 11 Product Image

Research Update: Wolf Hollow I's Ratings Placed On Watch Positive After Exelon Corp. Announces Acquisition Jun 11

  • ID: 1832024
  • June 2011
  • Standard & Poors

Abstract
Exelon Corp. has agreed to purchase the Wolf Hollow I power generation facility for $305 million. We are placing our 'CCC+' and 'CCC' ratings on Wolf Hollow I's first-lien and second-lien debt on CreditWatch with positive implications and revising the second-lien recovery rating to '1' from '6'. We will resolve the CreditWatch listing after Exelon completes the acquisition. On June 20, 2011, Standard & Poor's Ratings Services placed its 'CCC+' rating on Wolf Hollow I L.P.'s $260 million senior secured bank facility and the 'CCC' rating on its $110 million second-lien term loan on CreditWatch with positive implications. At the same time, we revised the recovery rating on the second-lien debt to '1' from '6'. The rating actions reflect Exelon...

Companies mentioned in this report are: Wolf Hollow I L.P.,Exelon Corp.
Action: On CreditWatch:Positive

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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