{"id":49136,"date":"2018-02-21T19:21:00","date_gmt":"2018-02-22T00:21:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49136"},"modified":"2025-08-07T19:21:58","modified_gmt":"2025-08-07T23:21:58","slug":"ine-off-watch-positive-says-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49136","title":{"rendered":"INE Off Watch-Positive, Says S&#038;P"},"content":{"rendered":"<p>Standard &#038; Poor&#8217;s <a href=\"https:\/\/www.standardandpoors.com\/en_US\/web\/guest\/article\/-\/view\/type\/HTML\/id\/1996684\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>\u2022We are affirming our ratings on Innergex Renewable Energy Inc., including our &#8216;BBB-&#8216; long-term corporate credit rating on the company, and removing the ratings from CreditWatch with positive implications.\n<li>\u2022We believe the acquisition of Alterra Power Corp. increases Innergex&#8217;s scale and improves diversity by geography and fuel-type or resource.\n<li>\u2022We are revising our financial risk profile to significant from<br \/>\nintermediate after the additional debt used to fund the cash portion of the acquisition.<\/p>\n<li>\u2022The stable outlook reflects our expectation that Innergex&#8217;s portfolio of power generation facilities will continue to operate under long-term contracts with investment-grade counterparties and generate fairly predictable cash flows to support its holding-company debt obligations.<\/ul>\n<p><b>&#8230;<\/b><br \/>S&#038;P Global Ratings today affirmed its &#8216;BBB-&#8216; long-term corporate credit rating on Longueuil, Que.-based Innergex Renewable Energy Inc. At the same time, S&#038;P Global Ratings affirmed its &#8216;BB&#8217; global scale rating and &#8216;P-3&#8217; Canada scale rating on the company&#8217;s preferred shares. S&#038;P Global Ratings removed the ratings from CreditWatch with positive implications, where they were placed Nov. 2, 2017. The outlook is stable.<br \/><b>&#8230;<\/b><br \/>A downgrade could happen if FFO-to-debt ratio consistently falls below 23% over our outlook period. This could result from increased costs at projects under construction resulting in increased capital contributions from Innergex funded through debt, or from a significant reduction in cash flows from its<br \/>\nprojects due to operational challenges. <\/p>\n<p>An upgrade could happen if Innergex continues to meet projections while FFO-to-debt moves materially higher than 35%. This could result from increased cash flows from new projects or new acquisitions or deleveraging with paying<br \/>\ndown of debt or lower balances outstanding on the credit facility.<\/p>\n<\/blockquote>\n<p>Affected issues are INE.PR.A and INE.PR.C.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard &#038; Poor&#8217;s has announced: \u2022We are affirming our ratings on Innergex Renewable Energy Inc., including our &#8216;BBB-&#8216; long-term corporate credit rating on the company, and removing the ratings from CreditWatch with positive implications. \u2022We &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-49136","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49136"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49136\/revisions"}],"predecessor-version":[{"id":49137,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49136\/revisions\/49137"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}