Fitch sees rating Hannon notes BB+

Fitch Ratings said it assigned expected ratings of BB+ to the unsecured notes issued jointly by HAT Holdings I LLC and HAT Holdings II LLC, which are the indirect subsidiaries of Hannon Armstrong Sustainable Infrastructure Capital. HASI will guarantee the notes.

Simultaneously, Fitch assigned an expected rating of BB+ to the proposed convertible notes being issued by HASI.

“The expected ratings on the unsecured debt and the convertible notes are equalized with HASI's long-term IDR as they rank equally with the firm's outstanding unsecured notes. The expected ratings also reflect the availability of an unencumbered asset pool, which suggests average recovery prospects for debtholders under a stressed scenario,” Fitch said in a press release.

Proceeds will be used for investments in eligible green projects and for general corporate purposes.

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