10:21 AM EDT, 03/13/2024 (MT Newswires) -- S&P Global Ratings on Tuesday affirmed its BBB- issuer credit rating on Capital Power Corp. ( CPXWF ) and its BBB- issue-level rating on the company's senior unsecured debt.

The stable outlook reflects S&P Global Ratings' view that the company will maintain long-term, high-quality contracted cash flows, representing more than 60% of adjusted EBITDA while financial metrics remain commensurate with the rating.

S&P noted that Capital Power ( CPXWF ) continues to demonstrate stable operational performance and financial results while increasing its fleet by focusing on contracted assets.

"We forecast financial metrics will be supportive of CPC's creditworthiness, with adjusted funds from operations (FFO) to debt at or above 20% and debt to EBITDA at or below 4.0x," the agency said.

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