Fitch: WindMW unchanged

Fitch Ratings said that the change of ownership of WindMW GmbH has no impact on its BBB- or BBB debt ratings.

On June 13, Blackstone announced that it entered into a definitive agreement to sell its 80% stake WindMW to China Three Gorges (Europe) SA, which is fully owned by China Three Gorges Corp. (A+/stable).

The agency rates WindMW's debt on a standalone basis under project finance methodology for wind projects. The existing linkages with Blackstone such as the subordinated shareholder loan and the letters of credit to support the project's reserves (debt service reserve and covered claims reserve) will be transferred to the new owner, which has a strong credit profile, or replaced on the same terms with reputable financial counterparties.

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