Cory Cogeneration Funding Corporation: Rating Report

DBRS Limited (DBRS) confirmed the ratings of the 7.586% Senior Secured Project Bonds, Series A and the 7.601% Senior Secured Project Bonds, Series B (collectively, the Bonds) of Cory Cogeneration Funding Corporation (the Issuer) at BBB (high). The trends remain Stable. The confirmations reflect the continued performance of the Issuer’s only asset, the Cory Cogeneration Station (the Station or the Project), in line with DBRS’s expectations. The Station is organized as a joint venture, with financial reporting as Cory Cogeneration Station Joint Venture (Cory JV). The Issuer’s financial performance depends entirely on, and is reflected by, the performance of Cory JV.