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Longview Power LLC

2734 word report published Aug 20, 2010

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Abstract:

Longview Power LLC's (Longview) $1.1 billion senior secured first-lien credit facilities are rated 'BB-'. The facilities have a recovery rating of '1', indicating Standard&Poor's Ratings Services' expectation for substantial (70%-90%) recovery of principal in the event of a payment default. The outlook is negative. The rating was lowered to 'BB-' from 'BB' on May 19, 2010, reflecting a combination of weaker merchant market conditions as well as delays in construction that have resulted in the revision of the target date for substantial completion to March 19, 2011. This project has now been delayed seven weeks from the original planned date of Jan. 31, 2011, and is one week beyond the original guaranteed substantial completion date of March 12,

Brief Excerpt:

RESEARCH Ratings Definitions PDF Longview Power LLC Publication date: 20-Aug-2010 Primary Credit Analyst: Swami Venkataraman, CFA, San Francisco (1) 415-371-5071; swami_venkataraman@standardandpoors.com Credit Rating(s) Senior Secured...

Report Type:

Full Report

Issuer:

Longview Power LLC

Sector:

Global Issuers

Country:

United States

Region:

United States

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

Also from S&P Credit Research

Various Rating Actions Taken On Longview Power LLC's Restructured Debt $100.00
SAN FRANCISCO (Standard&Poor's) Dec. 21, 2011-- Standard&Poor's Ratings Services today assigned its 'B+' rating to Longview Power LLC's (Longview) $660.2 million in senior secured first-lien credit facilities and raised the rating to 'B+' from ...
Research Update: Longview Power LLC's Senior Credit Facilities Assigned 'B+/Negative' Rating $175.00
Standard&Poor's assigned its 'B+' rating to Longview Power LLC's $1.175 billion in senior secured first lien credit facilities. The outlook is negative. A '3' recovery rating has been assigned to the facilities. We withdrew our ratings on the ...
Longview Power LLC's Term Loan B Assigned Preliminary 'B+' Rating; Existing Debt On CreditWatch Positive $100.00
SAN FRANCISCO (Standard&Poor's) May 25, 2011--Standard&Poor's today assigned its preliminary 'B+' rating to Longview Power LLC's (Longview) proposed $590 million term loan B due 2017. The '3' preliminary recovery rating has been assigned to ...
Research Update: Longview Power LLC's Senior Secured Facilities On Watch Positive; Term Loan Assigned Preliminary 'B+' Rating $175.00
A preliminary 'B+' rating and stable outlook was assigned to Longview Power LLC's proposed term loan B. A '3' preliminary recovery rating was assigned to the loan. Longview's existing senior secured first-lien credit facilities were placed ...
Longview Power LLC 'B' Senior Secured Rating Affirmed; Outlook Still Negative Due To Construction Risk $100.00
SAN FRANCISCO (Standard&Poor's) April 6, 2011--Standard&Poor's Ratings Services affirms the 'B' rating on Longview Power LLC's (Longview) $1.1 billion senior secured first-lien credit facilities. The outlook is negative. "The outlook remains ...
Research Update: Longview Power LLC 'B' Senior Secured Rating Affirmed $175.00
Standard&Poor's Ratings Services affirms the 'B' rating on Longview Power LLC's (Longview) $1.1 billion senior secured first-lien credit facilities. The outlook remains negative, reflecting the risk of potential construction delays that may ...
Longview Power LLC $400.00
Longview's hedge on 43% of the project's output for a period of six years through a power purchase agreement (PPA) with PPL EnergyPlus LLC; A highly efficient plant with a relatively low guaranteed heat rate of 8,564 Btu per kW-hour; Mine-mouth ...
Summary: Longview Power LLC $175.00
Longview Power LLC's (Longview) $1.1 billion senior secured first-lien credit facilities are rated 'B'. The outlook is negative. The facilities consists of a $300 million first-lien term facility due 2014, a $350 million delayed draw term facility ...

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