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Article: Fitch Ratings Comments on PPL Montana, LLC.
- Article from:
- Business Wire
- Article date:
- October 17, 2003
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Business Editors
CHICAGO--(BUSINESS WIRE)--Oct. 17, 2003
Fitch Ratings does not expect the credit quality of PPL Montana, LLC (PPLM) to be materially affected by the bankruptcy of NorthWestern Corporation (NOR). Fitch currently rates PPLM's pass-through trust certificates 'BBB'. NOR, PPLM's largest offtaker by volume, purchases 300 MW of around-the-clock and 150 MW of on-peak power from PPLM under a fixed-price, five-year power purchase agreement (PPA). The PPA represents a commitment of approximately 32% of PPLM's capacity over the next four years. Fitch downgraded NOR's senior unsecured debt to 'DD' from 'CCC' after NOR filed for relief under Chapter ...