Moody's rates Mexico Generadora notes Baa2

Moody's Investors Service said it a provisional Baa2 rating to Mexico Generadora de Energia, S de RL planned issuance of $564.2 million senior secured notes due 2032.

The outlook is stable.

Moody's said the rating reflects the construction and operation of two substantially identical natural-gas fired power plants, each with a net generation capacity of roughly 250MW, for a total of 500MW, using commercially available technology by experienced developers, contractors and operators, where payment terms are governed by an electric energy self-supply agreement between Mexico Generadora, two affiliated off-takers and Minera Mexico, as guarantor, for the entire capacity of the plant through the term of the debt, covering debt service, and fixed and variable costs, including major maintenance.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.