Moody's rates Windsor loan Ba2

Moody's Investors Service said it assigned a Ba2 rating to Windsor Financing, LLC's proposed issuance of $246 million in a senior secured term loan B due 2019.

The outlook is stable.

Moody's said the transaction represents a refinancing of the existing senior secured debt due 2017 and the subordinated debt due 2016.

The refinancing will allow Windsor to improve its credit metrics by reducing mandatory debt service, take advantage of the currently low interest rate environment and extend the financing tenor through the start of the Northern Virginia Electric Cooperative power purchase agreements, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.