Moody's rates Star Energy notes B2

Moody's Investors Service said it assigned the B2 senior secured debt rating on the $350 million 11 ½% notes due 2015 issued by Star Energy Geothermal (Wayang Windu) Ltd. The provisional status of the rating has been removed following the completion of the bond issue.

The outlook is stable.

The proceeds from the issue will refinance outstanding debt under an existing bank facility, fund an interest reserve account for the bond and partially fund developmental costs related to the proposed Unit 3 expansion, Moody's said.

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