NEW YORK (S&P Global Ratings) April 18, 2022--S&P Global Ratings today said the proposed sale of the power project owned and operated by Ector County Energy Center (ECEC) could partially offset the overall reduction in Invenergy Thermal Operating I LLC's cash flow generation, which is strained due to weak capacity prices in regions where key Invenergy assets are located. Under the terms of Invenergy's term loan B (BB/Negative), ECEC and other subsidiaries are jointly and severally liable for all obligations under the credit agreement. The agreement further provides that, absent a default, $75 million of ECEC sale proceeds are required to prepay the outstanding $340 million loan that matures in 2025. This would reduce actual outstanding debt by about 20%
