Moody’s rates Talen Energy loan Baa2

Moody's Investors Service said it affirmed Talen Energy Supply LLC's corporate family rating at Ba2 and assigned a Baa2 senior secured rating to the $400 million term loan currently being marketed by Talen to finance the acquisition of MACH Gen.

The outlook is negative.

Talen's Ba2 corporate family rating reflects a combination of factors that include the inherent volatility of the merchant power market which is currently in the midst of a prolonged cyclical downturn, the above average portfolio quality of its generation assets, and similar levels of debt leverage relative to its independent merchant energy peers.

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