DBRS confirms Lievre Power

DBRS said it confirmed the rating on the $225 million senior secured bonds of Lievre Power Financing Corp. at A (low) with a stable trend.

The bonds are secured by the hydroelectric power generation assets of Lièvre Power LP, DBRS said.

The rating reflects the strength of the company's low-cost generating facilities located at sites with solid market fundamentals and supported by the energy sales contracts currently in place, the agency said.

Although poor hydrology resulted in production well below the long-term average in the third quarter of 2010, it improved in the fourth quarter to above the historical average, DBRS said.

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