...TORONTO (S&P Global Ratings) Feb. 27, 2019--S&P Global Ratings said today it assigned its '###-' issue-level rating to Cheniere Energy Inc.'s (CEI) $1.25 billion senior secured revolving credit facility. At the same time, S&P Global Ratings assigned its '1' recovery rating to the debt, reflecting our expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of default. The credit facility will support CEI's equity contribution to the Corpus Christi project, and fund general corporate purposes. The '##' long-term issuer credit rating and stable outlook on the company are unchanged. The ratings on CEI reflect continued strengthening of business risk as additional trains at Sabine Pass and Corpus Christi are completed. RECOVERY ANALYSIS For our recovery analysis, Cheniere Energy's capital structure includes its $1.25 billion senior secured revolving facility, and total unsecured senior notes of about $1.85 billion (unrated). Key analytical factors + Our simulated default...
