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S&P trims Revere Power
S&P said it lowered its senior secured debt rating on Revere Power LLC to B+ from BB-, based on lower debt service coverage ratios in the post-refinance period. The 2 recovery rating is unchanged.
The outlook is negative.
“We expect Revere Power LLC will have higher debt balances and lower expected cash flows in future periods, which will result in lower debt service coverage ratios (DSCRs) throughout the life of the portfolio and increased refinancing risk,” S&P said in a news release.
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