TerraForm Power Operating LLC -- Moody's affirms B3 CFR of Terraform Power and Terraform Global; Outlook remains negative

New York, April 28, 2016 -- Moody's Investors Service (Moody's) today affirmed the B3 corporate family rating (CFR), B3-PD Probability of Default rating and Caa1 senior unsecured ratings at Terraform Power Operating LLC (TPO) and Terraform Global Operating LLC (TGO). The speculative grade liquidity ratings (SGL) at TPO and TGO were also maintained at SGL-4 and SGL-3, respectively. The loss given default (LGD) rating for both companies remains unchanged at LGD-5. The rating outlook on both entities is negative. TPO and TGO are subsidiaries of TerraForm Power Inc and TerraForm Global Inc, respectively, which are the publicly listed YieldCos and subsidiaries of sponsor SunEdison Inc (SUNE, unrated).

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