S&P lifts Continental Wind view to positive

S&P said it affirmed its BBB- issue-level rating on Continental Wind LLC's $613 million senior secured notes due in 2033 and revised the outlook to positive from stable.

Since financial close in September 2013, the CW portfolio has mostly performed close to its one-year P50 wind production estimate, and outperformed our adjusted P90 base case, S&P said.

“The positive outlook reflects the project's strong operating and financial performance despite low wind volumes across the country during the last three years. We could raise the rating by one notch if the portfolio's wind performance exceeds our expectation over our two year outlook horizon period,” S&P said in a news release.

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