Fitch affirms Energia Eolica notes

Fitch Ratings said it affirmed the long-term rating assigned to Energia Eolica SA's $204 million senior notes maturing in 2034 at BBB-.

The outlook is stable.

“The rating is driven by Inka's 20-year fixed-price power purchase agreement (PPA) with Peru's energy system operator, which is partially offset by penalties for underperformance and some curtailment risk as more renewable projects connect to the grid,” the agency said in a news release.

“Also, the rating reflects the moderate operational risk from an agreement with Vestas, for which the 10-year term is only half of the debt tenor.”

© 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.