Moody's revises Topaz to negative

Moody's Investors Service said it affirmed the B1 rating on Topaz Power Holdings, LLC's roughly $623 million of senior secured credit facilities outstanding, including its $593 million (originally $610) term loan due February 2020 and its $30 million revolving credit facility terminating February 2017.

The outlook was revised to negative.

Moody's said the negative outlook was driven by Topaz's recent and near-term expected financial performance which has been significantly below management's assumptions at the time of the 2013 refinancing.

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