Research Update: Panoche Energy Center LLC 'BBB-' Rating Affirmed As It Awaits Carbon-Compliance Resolution; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: Panoche Energy Center LLC 'BBB-' Rating Affirmed As It Awaits Carbon-Compliance Resolution; Outlook Negative

Research Update: Panoche Energy Center LLC 'BBB-' Rating Affirmed As It Awaits Carbon-Compliance Resolution; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Panoche Energy Center LLC 'BBB-' Rating Affirmed As It Awaits Carbon-Compliance Resolution; Outlook Negative
Published Mar 30, 2016
Published Mar 30, 2016
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Uncertainty continues for U.S. power project Panoche Energy Center LLC's carbon-compliance obligation following a protracted disagreement and current litigation between the project and offtaker Pacific Gas&Electric Co. (PG&E) over the pass-through of greenhouse gas costs under its power purchase agreement (PPA). The PPA predated carbon regulation in California that started in 2013. These unique circumstances preclude clarity for some of our key financial forecast assumptions. We will revisit our base case assumptions following the resolution of litigation and any negotiations that yield a settlement between the project and PG&E over the project's exposure to carbon costs. Standard&Poor's Ratings Services is affirming its 'BBB-' rating on Panoche's senior secured debt. The negative outlook reflects the additional deterioration

  
Report Type:

Research Update

Issuer
Panoche Energy Center LLC
GICS
Electric Utilities (55101010)
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: Panoche Energy Center LLC 'BBB-' Rating Affirmed As It Awaits Carbon-Compliance Resolution; Outlook Negative" Mar 30, 2016. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Panoche-Energy-Center-LLC-BBB-Rating-Affirmed-As-It-Awaits-Carbon-Compliance-Resolution-Outlook-Negative-1606242>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Panoche Energy Center LLC 'BBB-' Rating Affirmed As It Awaits Carbon-Compliance Resolution; Outlook Negative Mar 30, 2016. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Panoche-Energy-Center-LLC-BBB-Rating-Affirmed-As-It-Awaits-Carbon-Compliance-Resolution-Outlook-Negative-1606242>
  
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