Transaction Update: Brooklyn Navy Yard Cogeneration Partners L.P. Dec 11
Standard & Poors, December 2011
Abstract
Brooklyn Navy Yard Cogeneration Partners L.P. (BNYCP) is a 220 megawatt (MW) to 300 MW gas- and oil-fired cogeneration facility in Brooklyn, N.Y., that can produce up to 1 million pounds of steam per hour. It has a 40-year power and steam purchase agreement (energy sales agreement) with Consolidated Edison Co. of New York Inc. (A-/Stable/A-2) that expires in 2036. The plant began operations in November 1996. The New York City Industrial Development Agency (NYCIDA) issued the project's $307 million 1997 tax-exempt industrial development term bonds maturing 2022-2036 ($307 million outstanding) and $100 million 7.42% amortizing 1997 taxable senior secured bonds maturing in 2020 (about $50 million outstanding). The parity but unrated $31.7 million 7.74% taxable senior secured bonds issued...
Companies mentioned in this report are: Brooklyn Navy Yard Cogeneration Partners L.P.
Action: Review
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: Full Analysis
Brooklyn Navy Yard Cogeneration Partners L.P.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
