Research Update: Essential Power LLC 'BB-' Rating Affirmed; Outlook Revised To Negative From Stable - S&P Global Ratings’ Credit Research

Research Update: Essential Power LLC 'BB-' Rating Affirmed; Outlook Revised To Negative From Stable

Research Update: Essential Power LLC 'BB-' Rating Affirmed; Outlook Revised To Negative From Stable - S&P Global Ratings’ Credit Research
Research Update: Essential Power LLC 'BB-' Rating Affirmed; Outlook Revised To Negative From Stable
Published Jan 08, 2016
Published Jan 08, 2016
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About This Report

  
Abstract:

In our view, Essential Power LLC could face lower cash flows as a result of slowing demand growth and declining energy margins in both New England and the PJM. We affirmed our 'BB-' issue ratings on Essential Power LLC's $565 million term loan B and $100 million revolving credit facility but revised the outlook to negative from stable. The change to negative reflects a one-in-three chance that cash flows and debt service coverages will be weaker than anticipated in our base case. The negative outlook also factors in deleveraging that has lagged our expectations by about $30 million compared with our expectations in 2015. There have been no meaningful sweeps of the term loan since loan inception in 2012 with

  
Report Type:

Research Update

Ticker
0221469D
Issuer
Nautilus Power LLC
GICS
Independent Power Producers & Energy Traders (55105010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Essential Power LLC 'BB-' Rating Affirmed; Outlook Revised To Negative From Stable" Jan 08, 2016. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Essential-Power-LLC-BB-Rating-Affirmed-Outlook-Revised-To-Negative-From-Stable-1559824>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Essential Power LLC 'BB-' Rating Affirmed; Outlook Revised To Negative From Stable Jan 08, 2016. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Essential-Power-LLC-BB-Rating-Affirmed-Outlook-Revised-To-Negative-From-Stable-1559824>
  
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