KBRA Publishes Report for Wind Energy Transmission Texas, LLC’s 3.67% Senior Secured Notes Due 2034
NEW YORK--(BUSINESS WIRE)--Sep 13, 2019--
On September 6, 2019, Kroll Bond Rating Agency (KBRA) assigned a A- rating to the 3.67% Senior Secured Notes Due 2034 (the “Notes”) issued by Wind Energy Transmission Texas, LLC (“WETT”) for an original principal amount of $490 million.
The A- rating on the Notes reflects our view of the Project’s strengths, as follows:
The rating also reflects the project’s following weaknesses:
The Stable Outlook reflects KBRA’s view that the strong regulatory framework in ERCOT will continue to support the project’s low business risk profile. KBRA expects that WETT will continue to successfully operate and maintain the project.
To access the report, click here.
The rating is based on KBRA’s Global Project Finance Rating Methodology, published November 28, 2017.
Related Publications: (available at www.kbra.com )
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190913005479/en/
CONTACT: Analytical Contacts:
Adeeti Amin, Associate Director
Maria de Urquijo, Associate Director
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Kroll Bond Rating Agency
Copyright Business Wire 2019.
PUB: 09/13/2019 02:43 PM/DISC: 09/13/2019 02:43 PM