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Moody's assigns Paniolo notes A3
Moody's Investors Service said it assigned an A3 rating to the senior secured series A notes due 2027 of the Paniolo Cable Co. LLC with a stable outlook.
The series A notes were fully funded in August 2007 along with $22 million of series B senior second-lien notes, also due in 2027, Moody's said, adding that it has not been asked to provide a rating for the second-lien obligations.
The rating embodies the unique characteristics of the Paniolo project, Moody's said, adding that the rating is supported by the existing regulatory framework, the level of state and federal support for the project and its ultimate service area.
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