Grand Renewable Solar LP: Rating Report
On June 23, 2023, DBRS, Inc. (DBRS Morningstar) confirmed Grand Renewable Solar LP’s (ProjectCo) Issuer Rating and the ratings on the 3.926% Series 1A-2016 Senior Secured Notes and 3.926% Series 1B-2016 Senior Secured Notes at BBB. All trends are Stable. The pari passu Notes, with an outstanding balance of approximately $422.5 million, will fully amortize by the January 31, 2035, maturity date. The rating confirmations reflect ProjectCo’s good operating and financial performance over the review period. The Stable trends reflect DBRS Morningstar's expectation that performance will remain stable for the next 12 months.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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