Berkshire Wind Power bonds upgraded
- Aug 2, 2019 10:20 pm GMT
Fitch Ratings has upgraded bonds issued by the
The bonds receiving the new rating total more than
Fitch's rating outlook for the bonds has been revised from positive to stable.
In its upgrade, Fitch cites the improved credit quality of
The "very strong credit quality" of BWPCC project participants is supported by the project's monopolistic utility operations, autonomous rate making authority, very low operating costs and very low financial leverage, according to Fitch. Fitch also cited the strong contractual framework and strong purchasers in its revenue defensibility assessment.
MMWEC formed the BWPCC in 2008 to own and operate the
An expansion of Berkshire Wind, consisting of an additional two turbines and 4.6 megawatts, is set to go online this summer. Phase II of the project, located adjacent to the existing project, includes municipal utility participants in
"At a time when renewables are becoming more and more in focus, it is fantastic that these Green Bonds have received a rating increase," said MMWEC Chief Executive Officer
MMWEC is a nonprofit, public corporation and political subdivision of the
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