Kingston Solar LP: Rating Report
On October 15, 2018, DBRS Limited (DBRS) confirmed the ratings of BBB with Stable trends on both the 3.571% Series 1A-2016 Senior Secured Notes and the 3.571% Series 1B-2016 Senior Secured Notes (collectively, the Notes) issued by Kingston Solar LP (ProjectCo or the Issuer). The two tranches of Notes (original amount: $632.97 million; outstanding balance: approximately $582.8 million) rank pari passu and will fully amortize by the July 31, 2035, maturity date. The rating confirmationsreflect ProjectCo’s stable operating and financial performancesin 2017 and the last 12 months ended June 30, 2018, matching DBRS’s expectations.
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