Solar Star’s $1B Senior Secured Notes Receive BBB Rating From Fitch


Fitch Ratings has assigned a rating of BBB to Solar Star Funding LLC's $1 billion series A senior notes, along with a stable outlook for its 579 MW Solar Star 1 and Solar Star 2 projects under construction by SunPower in Southern California. The project reached financial close on June 27.

Fitch says its rating is subject to downgrade if the project is delayed past its scheduled start of operations of Oct. 31, 2015, if its output is unsatisfactory or if its costs significantly exceed current forecasts of $2.75 billion.

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