S&P upgrades Continental Wind

S&P said it raised the rating on Continental Wind LLC's $613 million 6% senior secured notes due Feb. 28, 2033 to BBB from BBB-.

The ratings are supported by the diversity of the company's wind assets and its energy produced above expectations, S&P said.

The project's consistent wind resource performance compared with that of other rated wind projects and its strong operations and maintenance management have resulted in strong financial performance, the agency said.

The company has among the most diverse wind portfolios that are rated by S&P with operations in six states and five different wind regimes.

The stable outlook reflects expectations of continued stable operations, predictable contractual cash flows and stronger wind resource performance compared with those of the project's rated peers over the next two years, the agency said.

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