Fitch rates Energia Eolica notes BBB-

Fitch Ratings said it expects to assign a BBB- rating to Energia Eolica’s $204 million senior notes due in 2034.

The outlook is stable.

The ratings reflect the risks associated with the recent start of operations of wind farm facilities over a 20-year term, Fitch said.

Favorably, the project benefits from proven turbine technology and initial operating support from the manufacturer, the agency said.

The project’s fixed-rate, fully amortizing debt through 2034 with six-month debt-service reserve provides sufficient liquidity in stress scenarios, Fitch added.

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