...December 1, 2020 TORONTO (S&P Global Ratings) Dec. 1, 2020--S&P Global Ratings today said it assigned its '##-' issue-level rating and '2' recovery rating to ExGen Renewables IV LLC's (EGR IV) $750 million term loan B due 2027. The '2' recovery rating indicates our expectation of substantial (70%-90%; rounded estimate: 70%) recovery in the event of a default. The company, which is sponsored by Exelon Generation Co. LLC, will use proceeds from this issuance to retire its $850 term loan B due 2024 and for other corporate purposes. Once the proceeds have been used to pay down the term loan, S&P Global Ratings will withdraw the '##-' rating and '2' recovery rating on the secured debt. EGR IV owns and operates a portfolio of 30 contracted renewable wind and solar power generation assets in the continental U.S. Our 'B+' issuer credit rating on EGR IV reflects our assessments of its business risk profile as fair and financial risk profile as highly leveraged....
