Green Bank markets “SHREC” solar ABS deal

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By Jennifer Kang
14 Mar 2019

Connecticut Green Bank is issuing a $38.6m solar deal backed by the proceeds from the sale of solar home renewable energy credits (SHREC).

The senior class ‘A’ notes were given a preliminary A minus rating by Kroll, while the class ‘B’ notes were given a preliminary triple-B minus rating. The SHREC program entails a Master Purchase Agreement between the Green Bank and Connecticut’s two investor-owned utilities, Eversource and United Illuminating. Under ...

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