Fitch gives Vistra notes BBB-, BB

Fitch Ratings said it gave BBB-/RR1 rating to Vistra Operations Co. LLC's planned $500 million of senior secured notes due in 2033 and BB/RR4 ratings to its $1 billion of senior unsecured notes due in 2031. The RR1 recovery rating denotes outstanding recovery and the RR4 recovery rating denotes average recovery in the event of default.

The long-term issuer default rating for Vistra Operations and its parent company, Vistra Corp. (Vistra) is BB.

The proceeds will be used to finance a portion of Energy Harbor's (BB+/rating watch negative) acquisition costs and for general corporate purposes. If the acquisition does not close, the company plans to use the proceeds to refinance upcoming maturities.

The outlook is stable.

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