Fitch rates Enviva notes BB-

Fitch Ratings said it assigned a BB-/RR4 rating to Enviva Partners, LP’s offering of senior unsecured notes.

The proceeds are expected to be used to repay $355 million of senior unsecured notes and the related redemption premium, as well as to repay borrowings under its revolver. As of Sept. 30, Enviva had about $2 million of unrestricted cash and $165 million available under its revolver for a total liquidity of $167 million. The revolver matures in October 2023.

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