Fitch Ratings has downgraded
Simultaneously, Fitch has withdrawn the IDR following the closure of the merger with
On
While the acquisition provides modest improvement to the combined enterprise's business position, the proposed acquisition results in a weaker financial profile.
Energy Harbor's only existing debt is approximately
Fitch has withdrawn the IDR following the closure of the merger with
Key Rating Drivers
Not applicable as the ratings have been withdrawn.
RATING SENSITIVITIES
Rating sensitivities are no longer relevant given the rating withdrawal
Issuer Profile
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
ESG Considerations
The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. For more information on Fitch's ESG Relevance Scores, visit https://www.fitchratings.com/topics/esg/products#esg-relevance-scores.
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