S&P affirms NSG Holdings loan

Standard & Poor's said it affirmed the B bank loan rating on NSG Holdings II LLC's $160 million senior secured bank facility.

The outlook has been revised to stable from negative following the outlook revision on Reliant Energy Inc. (B/stable/B-2) to reflect that liquidity concerns have been addressed, the agency said, adding that the $160 million senior secured bank facility consists of a $10 million revolving credit facility due 2009 and a $150 million term loan facility due 2011.

At the same time, S&P said it affirmed the recovery rating of 2 on the company's proposed credit facilities.

The portfolio has cash flow and asset concentration because of its dependence on a single project, Vandolah, a 680 MW peaking facility in Florida, S&P added.

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