Fitch rates DTEK Renewables green bonds B

Fitch Ratings said it assigned DTEK Renewables Finance BV's euro-denominated green bonds a B expected senior unsecured rating, in line with DTEK Renewables BV's long-term issuer default rating of B, which has a stable outlook.

The proceeds are to be used for financing and/or refinancing, in whole or in part, new and existing projects as well as to refinance bridge loans of about €100 million and partially to repay an existing deferred vendor and shareholder loan of €70 million.

“DTEK Renewables BV's rating reflects a supportive regulatory framework for renewable power generation, highly profitable operations compared with conventional generation, and our expectation that leverage will moderate once all assets are put into operation,” the agency said in a news release.

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