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Fitch lowers outlook for Terra-Gen Finance to negative
Fitch Ratings said it revised Terra-Gen Finance Co., LLC's outlook to negative from stable and affirmed the BB- rating on its $250 million term loan facility and $60 million working capital facility.
The negative outlook reflects Terra-Gen's weakening projected financial profile, which could result in insufficient distributions from the portfolio's projects, according to the agency. Fitch said Terra-Gen may need to access reserves to fulfill debt obligations, which would indicate a profile inconsistent with the current rating category.
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