Fitch gives Tierra Mojada notes BBB-

Fitch Ratings said it assigned an expected rating of BBB- to FEL Energy VI Sarl’s planned issuance of $904 million in senior secured notes, supported by cash flows from Ciclo Combinado Tierra Mojada S de RL de CV.

“The rating reflects a mostly-contracted combined-cycle plant with a power purchase agreement (PPA) backed by the Comision Federal de Electricidad (CFE; rated BBB-/stable) through the life of the debt for approximately 60% (under Fitch’s projections) of the plant’s revenues and 70% of plant capacity,” the agency said in a press release.

The outlook is stable.

© 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.