Atlantic Power Corp: Rising Debt Has Company On The Ropes

I have written about Atlantic Power Corp (NYSE:AT) (TSE:ATP) before, warning that the company could be a value trap, as despite its discount to book and turnaround plan, the company is still facing many headwinds. Unfortunately, over the past few weeks evidence has emerged suggesting that AT is in fact living on borrowed time.

Moody’s downgrades Atlantic Power

This is yet another chapter in Atlantic Power Corp (NYSE:AT) (TSE:ATP)'s decline. Moody's Corporation (NYSE:MCO) has downgraded the company after Atlantic Power Limited Partnership ("APLP"), a wholly-owned indirect subsidiary of Atlantic Power, launched the syndication of new senior secured credit facilities, comprising up to $600 million in aggregate principal amount of senior secured...