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Prospect News home > News index > List of issuers E > Headlines for Elwood Energy, LLC > News item |
S&P cuts Elwood bonds
Standard & Poor's said that it lowered Elwood Energy LLC's $402 million of 8.159% amortizing senior secured bonds due 2026 to BB- from BB.
The outlook remains negative.
S&P affirmed the 3 recovery rating on the bonds, indicating the expectation of meaningful recovery (50% to 70%) in a payment default scenario.
The ratings are based on Elwood Energy project's credit profile, the agency said.
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