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Wind Project Max Two 'B-' Rating Still On Watch Neg Pending Receipt Of Auditor's Opinion On 2010 Financial Statements Jul 11
Standard & Poors, July 2011
We have not yet received the 2010 audited financial statements of Jersey-based special purpose entity Max Two Ltd., and therefore lack an auditor's opinion on this issuer's current financial situation. We are therefore maintaining our 'B-' issue rating on MTL's -100 million senior secured notes on CreditWatch with negative implications. We intend to resolve the CreditWatch status after reviewing Max Two Ltd.'s 2010 audited statements and updates on the operational performance of wind farm projects during the first half of this year, which we expect to receive at the end of July 2011. MADRID (Standard & Poor's) July 8, 2011--Standard & Poor's Ratings Services said today it is keeping its 'B-' long-term foreign-currency issue rating on the -100 million senior...
Companies mentioned in this report are: Max Two Ltd.
Action: CreditWatch Update
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
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Max Two Ltd.