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Standard & Poor’s Ratings Services lowered all its ratings on Terraform Private LLC (Private) and TerraForm Global Inc. (Global)(Nasdaq: GLBL), including the corporate credit rating to ‘B-‘ from ‘B’. The rating outlook is stable.
“The rating actions on Private and Global are due to a downward assessment of SunEdison’s group credit profile following its recent execution on a series of debt exchange transactions that, in our view, represent a distressed debt exchange,” said Standard & Poor’s credit analyst Nora Pickens. Private’s stand-alone credit profile (SACP) remains ‘b’, reflecting our assessment of its “weak” business risk profile an…
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