Fitch stabilizes Dudgeon Offshore view

Fitch Ratings said it revised the outlook on Dudgeon Offshore Wind Ltd.’s senior secured debt rating to stable from negative and affirmed the rating at A-.

“The revision of the outlook reflects the increase in expected debt service coverage ratios (DSCR) following increased revenues under Dudgeon's contract for difference (CfD) as its strike price is inflated annually with U.K. CPI. The rating action also reflects a revision of Fitch's rating case (FRC) operating cost stress to 10% from 30%,” the agency said in a press release.

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