- Language: English
- 1539 Pages
- Published: March 2012
- Region: Global
Transaction Update: Kincaid Generating LLC Jan 12
- Published: January 2012
- Standard & Poors
Kincaid is a 1,158 megawatt (MW) coal-fired power plant located near Kincaid, outside of Springfield, Ill. The facility began commercial operations in 1967-1968, but Kincaid overhauled all boilers in 1998-1999 when the debt was issued. Kincaid sells electricity to Exelon Generation Co. LLC (BBB/Stable/A-2) under a 15-year power-purchase agreement (PPA) ending Feb. 27, 2013. Exelon Generation is the project's sole off-taker. Kincaid is a special-purpose entity owned by Dominion Energy Inc., a wholly owned subsidiary of Dominion Resources Inc. (A-/Stable/A-2), and by Dominion Kincaid Inc., a wholly owned subsidiary of Dominion Energy. The rating on U.S. power producer Kincaid Generating LLC's $265 million 7.33% amortizing senior secured bonds due 2020 ($165 million outstanding) is 'BBB-'. The outlook is stable. The...
Companies mentioned in this report are: Kincaid Generating LLC,Dominion Resources Inc.,Dominion Resources Capital Trust III
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Research Type: Full Analysis
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Kincaid Generating LLC,Dominion Resources Inc.,Dominion Resources Capital Trust III