Polaris Renewable Energy Announces Corporate and Bond Instrument Credit Rating

Rhea-AI Summary

Polaris Renewable Energy (TSX:PIF) has received a corporate credit and bond instrument rating of BB- with Stable Outlook from S&P Global Ratings. This international credit rating assessment represents a significant milestone in the company's financial standing evaluation.

Positive

• Received BB- credit rating from S&P Global Ratings, a recognized international agency
• Stable outlook assessment indicates expected credit stability

Negative

• BB- rating falls within speculative grade category, below investment grade

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TORONTO, ON / ACCESSWIRE / November 8, 2024 / Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company") is pleased to announce that international credit rating agency S&P Global Ratings has assigned corporate credit and bond instrument ratings of BB- with Stable Outlook to Polaris.

About Polaris Renewable Energy Inc.

Polaris Renewable Energy Inc. is a Canadian publicly traded company engaged in the development, construction, acquisition, and operation of renewable energy projects in five countries in Latin America and the Caribbean.

The Company's operations include a geothermal plant (~82 MW), four run-of river hydroelectric plants (~40 MW), three solar (photovoltaic) projects in operation (~35 MW) and one wind park (26 MW) following closing of the Puerto Rico acquisition.

For more information, contact:

Investor Relations
Polaris Renewable Energy Inc.
Phone: +1 647-245-7199
Email: info@PolarisREI.com

SOURCE: Polaris Renewable Energy Inc.

View the original press release on accesswire.com

FAQ

What credit rating did S&P Global assign to Polaris Renewable Energy (TSX:PIF) in November 2023?

S&P Global Ratings assigned Polaris Renewable Energy a BB- credit rating with Stable Outlook for both corporate credit and bond instruments.

Is Polaris Renewable Energy's BB- credit rating considered investment grade?

No, a BB- rating is considered speculative grade or 'junk' status, falling below investment grade ratings which start at BBB- and above.

What does the Stable Outlook mean for Polaris Renewable Energy's credit rating?

The Stable Outlook indicates S&P Global expects the company's credit quality to remain relatively consistent in the near to medium term.