Credit Rating Report

Northwestern Hydro Acquisition Co III LP: Rating Report

Project Finance

Summary

On March 21, 2024, DBRS Limited (Morningstar DBRS) downgraded the Issuer Rating of Northwestern Hydro Acquisition Co III LP. and the credit rating of its $538 million Senior Secured Bonds - Series 2038-1 and Senior Secured Bonds - Series 2038-2 to BBB from BBB (high). All trends remain Negative.

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