Comber Wind Financial Corporation: Rating Report

On June 21, 2021, DBRS Limited (DBRS Morningstar) confirmed Comber Wind Financial Corporation’s (the Issuer) Issuer Rating and the rating on the $450 million Series 1 Senior Secured Bonds (the Bonds), due November 15, 2030, at BBB with Stable trends. The Issuer is the financing vehicle of 2016 Comber Wind Limited Partnership (ProjectCo and the Guarantor), a special-purpose entity (SPE) that owns the 82.8-megawatt (MW) Comber East project and the adjacent 82.8-MW Comber West wind project (together, the Project) located in Essex County, Ontario. As at December 31, 2020, $301.2 million of the Bonds were outstanding.