INNERGEX RENEWABLE ENERGY INC. RATING 'BBB-'
FITCHRATINGS - 02 Dec 2020: Fitch Ratings has assigned Innergex Renewable Energy Inc. a first-time Issuer Default Rating (IDR) of 'BBB-' with a Stable Rating Outlook. Fitch has also assigned a rating of 'BB' to Innergex's cumulative preferred shares. The preferred shares are afforded a 50% equity credit due to the cumulative nature of the dividends and the perpetual nature of the preferred stock. Fitch calculates Innergex's credit metrics on a deconsolidated basis, as its operating assets are largely financed with nonrecourse project debt held at…
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