Credit Rating Report

Northwestern Hydro Acquisition Co III LP: Rating Report

Project Finance

Summary

On March 18, 2022, DBRS Limited (DBRS Morningstar) changed the trends on Northwestern Hydro Acquisition Co III LP’s (the Issuer) Issuer Rating, Senior Secured Bonds-Series - 2038-1, and Senior Secured Bonds - Series 2038-2 to Negative from Stable and confirmed the ratings at A (low).

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