Fitch Affirms Orange Cogen Funding's Senior Secured Bonds at 'BBB+'; Outlook Stable

SAN FRANCISCO–(BUSINESS WIRE)–Fitch Ratings has affirmed Orange Cogen Funding Corporation’s (OC Funding) $110 million ($72.6 million outstanding) senior secured bonds due 2022 at ‘BBB+’. The Rating Outlook remains Stable. The rating affirmation is supported by OC Funding’s projected debt service coverage ratios (DSCRs) which are strong for the rating. Cash flow remains resilient as the project earns fixed capacity payments through a long-term agreement with Duke Energy Florida (DEF; ‘BBB+’/St
Source: BusinessWire-Primary

Fitch Affirms Orange Cogen Funding's Senior Secured Bonds at 'BBB+'; Outlook Stable