| Title: | Northeast Biofuels L.P. |
| Price: | $400.00 |
| Publication Date: | May 09, 2008 |
| Report Type: | Full Report |
| Abstract: | The 'B' rating on Northeast Biofuels LLC's $140 million senior secured first-lien credit facility due May 2013 is on CreditWatch with negative implications. The '3' recovery rating reflects an expectation of meaningful (50% to 80%) recovery of principal in a default scenario. Northeast Biofuels is building and will operate a 100 million gallon per year (mmgpy) dry mill ethanol facility in Fulton, N.Y. Standard&Poor's Ratings Services expects to resolve the CreditWatch listing when the plant reaches substantial completion. We could lower the rating further if there are additional construction-related issues in completing the plant. Once construction is complete, we expect to revise the outlook to stable. The rating reflects the following risks: The plant is six months behind |
| Brief Excerpt: | RESEARCH Ratings Definitions Northeast Biofuels L.P. Publication date: ##-May-#### Primary Credit Analyst: Grace D Drinker, New York (#) ###-###-####; grace_drinker@standardandpoors.com Credit Rating(s) Senior Secured US$### mil sr... |
| Word Count: | 2692 |
| Issuer: | Northeast Biofuels LP |
| Sector: | Global Issuers, Utilities |
| Country: | United States |
| Region: | United States |
| Format: | 
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