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Moody's: Panoche view stable
Moody's Investors Service said it affirmed the Baa3 rating for Panoche Energy Center, LLC's 6.885% senior secured bonds due 2029.
The outlook was revised to stable from negative.
Moody's said the Baa3 rating affirmation and outlook revision to stable reflects its knowledge of positive developments with respect to greenhouse gas compliance costs in California and the belief that Panoche is likely to receive the necessary allocations to cover the plant's annual greenhouse gas emissions during 2014.
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