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Summary: Panoche Energy Center LLC

Published Feb 26, 2010

2317 words — Published Feb 26, 2010

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Abstract:

Standard&Poor's Ratings Services' rating on Panoche Energy Center LLC's (Panoche) $321 million senior secured bonds due July 2029 is 'BBB-'. The rating is on CreditWatch with negative implications. Panoche was formed as a single-purpose, bankruptcy-remote entity owned by U.S. Power Fund II L.P., a private equity fund managed by EIF Management LLC (not rated) to develop, build, own, and operate an approximately 400-megawatt (MW) combustion turbine power plant located approximately 50 miles west of Fresno, Calif. Panoche is using the debt proceeds to fund construction of the facility, and will repay the debt with revenues it plans to earn through a long-term power purchase agreement (PPA) with Pacific Gas&Electric Co. (PG&E; BBB+/Stable/A-2). Construction of the plant

Brief Excerpt:

RESEARCH Summary: Panoche Energy Center LLC Publication date: 26-Feb-2010 Primary Credit Analyst: Terrence Marshall, San Francisco 415-371-5019; terrence_marshall@standardandpoors.com Rationale Standard & Poor's Ratings Services'...

Report Type:

Summary

Issuer

Panoche Energy Center LLC

GICS

Electric Utilities (55101010)

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

Panoche Energy Center's 'BBB-' Rating Still On Watch Negative – 2010/04/27 – US$ 150.00

Research Update: Panoche Energy Center's 'BBB-' Rating Still On Watch Negative – 2010/04/27 – US$ 225.00

Panoche Energy Center 'BBB-' Rating Affirmed And Off CreditWatch On Stronger Operating Results – 2010/09/24 – US$ 150.00

Research Update: Panoche Energy Center 'BBB-' Rating Affirmed And Off CreditWatch On Stronger Operating Results – 2010/09/24 – US$ 225.00

Panoche Energy Center LLC – 2011/03/31 – US$ 500.00

Panoche Energy Center LLC – 2010/02/26 – US$ 500.00

Panoche Energy Center LLC's Senior Secured Bonds Are Placed On CreditWatch Negative – 2010/02/25 – US$ 150.00

Research Update: Panoche Energy Center LLC's Senior Secured Bonds Placed On CreditWatch Negative – 2010/02/25 – US$ 225.00

Summary: Panoche Energy Center LLC – 2009/08/28 – US$ 225.00

Panoche Energy Center LLC – 2009/02/04 – US$ 500.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Panoche Energy Center LLC" Feb 26, 2010. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Panoche-Energy-Center-LLC-778343>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Panoche Energy Center LLC Feb 26, 2010. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Panoche-Energy-Center-LLC-778343>

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