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Article: Fitch Affirms Panther Creek Project's Bonds at 'BBB-'.
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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Fitch Ratings affirms its 'BBB-' rating of the Carbon County Industrial Development Authority's (Pennsylvania) $165 million resource recovery revenue refunding bonds due 2010 and 2012, issued on behalf of Panther Creek Partners, L.P. (PCP). The rating affirmation is based on Fitch's expectation that PCP will maintain historically high availability and continue to sell energy output at fixed rates. Recent operational disruptions have been resolved, and PCP's contracted fuel position reduces exposure to further increases in the price of coal. The Outlook is Stable.
The rating reflects contracted revenues extending beyond the life of the rated debt, derived entirely ...