S&P removes ExGen Renewables IV ratings from CreditWatch, view developing

S&P said it removed ExGen Renewables IV LLC’s ratings from CreditWatch with negative implications, affirmed its B rating, and assigned a developing outlook to the company.

“The revision reflects that PG&E’s bankruptcy plan, filed Sept. 9, 2019, does not propose to modify the terms of its existing PPAs, including AV Solar Ranch’s (AVSR). PG&E indicated in the reorganization plan that all purchase power agreements shall be deemed assumed. If this stance continues and the plan is approved, we could upgrade our rating on EGR IV when PG&E emerges from bankruptcy,” said S&P in a press release.

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