We affirmed our 'B+' rating on U.S. merchant power project Nautilus Power LLC's senior secured term loan facility and revolving credit facility. The recovery rating of '2' is unchanged, reflecting our expectation of substantial (70%-90%; rounded estimate: 70%) recovery in the event of default. The stable outlook reflects our view that debt service coverage ratios (DSCRs) will remain largely stable throughout our forecast period, with a minimum of 1.3x during our post-refinancing case. On May 29, 2018, S&P Global Ratings affirmed its 'B+' rating on Nautilus Power LLC's senior secured term loan facility due 2024 and $75 million senior secured revolving credit facility due 2022. The '2' recovery rating is unchanged, indicating that lenders can expect to realize 70%-90% (rounded
