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Prospect News home > News index > List of issuers C > Headlines for CE Oaxaca Cuatro, S de RL de CV > News item |
Fitch to rate CE notes BBB-
Fitch Ratings said it expects to assign BBB-(exp) ratings to CE Oaxaca Dos, S de RL de CV's $164.5 million of senior secured notes due 2031 and CE Oaxaca Cuatro, S de RL de CV's $167.5 million of senior secured notes due 2031. The outlooks are stable.
The agency said the ratings largely reflect the projects' expected financial performance. Under Fitch rating case conditions, which contemplate higher O&M costs combined with reduced energy production, Dos' debt service coverage ratio is expected to average 1.33 times with a minimum of 1.29 times, and Cuatro's ratio is expected to average 1.32 times, with a minimum of 1.29 times. Coverage levels are in line with Fitch's applicable criteria and other similarly rated transactions, the agency said.
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