LONDON (S&P Global Ratings) Sept. 19, 2025--S&P Global Ratings today assigned its 'B' issue rating to the proposed senior secured green notes issued by Aydem Renewables, subject to successful execution of the transaction. Aydem Renewables will use the proceeds from these proposed notes to purchase for cash its 7.75% senior secured green notes due 2027, as announced on Sept. 18, 2025. The outstanding amount for the notes was about $539 million on the day the transaction was announced. Should the issuance not go ahead, we could reassess our liquidity position and the credit quality of the company. Criteria Corporates General: Sector-Specific Corporate Methodology , April 4, 2024 Criteria Corporates General: Methodology: Management And Governance Credit Factors For
