...+ The capital structure of U.S. power project finance Lightstone Generation LLC includes a $1.575 billion term loan B, $150 million term loan C, and $100 million revolving credit facility. + Major risks to the project include power pricing, capacity pricing, and operations. + We are assigning our preliminary '##-' rating to Lightstone Generation LLC's term loan B, term loan C, and revolving credit facility. The preliminary recovery rating is '1'. + The outlook is stable, reflecting our expectations for sound operational performance and compliance with the PJM CP construct. NEW YORK (S&P Global Ratings) Nov. 30, 2016--S&P Global Ratings said today it assigned its preliminary '##-' rating to Lightstone Generation LLC's $1.575 billion term loan B, $150 million term loan C, and $100 million revolver. The outlook is stable. The preliminary recovery rating is '1', reflecting our expectation of very high (90%-100%) in the event of default. "The stable outlook reflects our expectation for sound...
